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So how do you know the GOB didn't give them the go ahead? I would bet that Treaty received some OK. And I do hope and anticipate they will hit commercial oil this time in Belize. As for west Texas, the Mitchell #3 is being hooked up with electricity Monday and should begin pumping. The Mitchell #4 is being completed and readied for production. It won't be long now for good news. Get Ready!
Are you pushing them down or holding them back. Either way, next week will bring good news. Count on it. Get Ready!
Two Big Problems for Treaty. First the get oil in the Mithcell #3, and two, they get gas. Uh, oh! What to do? And there's more coming. Get Ready!
Hey, ez57, it even could have been repossessed and sold. And how did the auction get clear title to it before they auctioned it off? Kinda confusing situation for the plantiffs in my opinion. But as of now, Treaty is moving it forward. Pumping could begin on the Mitchell #3 today, and next week on the Mitchell #4. In addition, they are getting ready for a possible rework situation in west Texas. Get Ready!
Coin, I really don't think the judge will have a problem at all. You see, he can simply be provided with the documents that illustrate the title that has been cleared by the federal government customs, and accordingly should accept those as being good enough for the court as well. Especially since both are considered government agencies. My question was why in the world would he even accept the filing unless he wants to do a final quash against the plantiffs. He may actually be smiling about this one as he has a drink since it should be a fairly simple case on the docket for whatever day it goes to court. And again, Treaty is moving it forward. Get Ready!
Tick, Tock, you're right. Then the filing will be for dismissal due to the fact that Treaty had title to the equipment in question as other federal government agencies have proclaimed that Treaty did, otherwise they could not have received goverment certified clearance documents to transport them through customs. This then could become a frivilous claim. Now what will happen to the plantiffs for filing a frivilous claim? In many instances the judge will give relief to the defendant(s) which in this case is Treaty and therefore Treaty could have a claim against all plantiff parties. Since either some or all of those parties have already filed for bankruptcy within the past seven years, they cannot use that as an out in this situation. Therefore all of their personal assets may be at risk, and the attorney who may represent them may indeed be faced with court sanctions for filing a frivilous claim. Treaty is moving it forward. Get Ready!
TD, here's something different than what you posted. You said the other wells in the area were producing from the same zone as what the Treaty Mitchell #3 and #4 will be. But from the Treaty man in the field, he says even the Mitchell #1 and #2 do not go down to the last zone that the latter two do. So, in effect, they may in fact have more production capacity than what the old data in the area reflects. You might want to check it out. With all of the wells that Treaty can drill, they could easily become cashflow positive, not only in west Texas, but for the whole company in just a few months. Sure, this has been presented before, but before they had no real success to deal with like they do now. Treaty is turning the corner. Get Ready!
So TD, anything north of 25 BOPD is a bonus for Treaty, right? And that is a good possibility. Get Ready!
So TD, what do you think they will produce from each well? Seems like you have posted something about 2BOPD before. Are you still in that range? Personally, I'm going to my high range of somewhere close to 25BOPD to maybe 40BOPD. Of course we won't know until next week as they will want to pump for a few days. Heck, it might even be the week after that, but then we'll know. And one thing is for sure, Treaty will be pumping oil. That in itself is good for investors. And they will have more wells pumping soon. Get Ready!
But, are they pumping from one, two, or three zones? The geologist indicates that Treaty has two zones for both Mitchell wells. And there may actually be a third zone that is only a few feet thick. So, the geologist should have some accuracy in what he sees from the readings on the well, don't you think? Production is forthcoming. Get Ready!
Quit trying to run the company and let Treaty do that. And yes, it took awhile for them to get to the point of having competent folks in the field, but they apparently do now. Sure, only two successful wells doesn't necessarily mean that things are great, but it is a strong, no, very strong step in the right direction. Why continually denounce them? Let them prove they have two wells that will produce for Treaty investors. That proof is now, and will continue. Remember they just moved for an additional 1800 acres in prime drilling territory. That might allow them to drill two or three dozen more wells. In my opinion, they just finally got the train moving. Get your ticket. Get Ready!
Great Job Running and Great News for Treaty. As I have posted before and others have questioned, Treaty has indeed posted a bond to cover everything in question with the TRCC. Now, they just have to get everything handled. And obviously, the most important activity that they have right now is to get the Mitchell #3 pumping. From a video I just watched, they indicate it should be pumping oil by Thursday. And they are in the process of completing the Mitchell #4 and they have already said they have oil there. In fact, one of the TNC folks, possibly their geologist mentioned the #4 might even better than the #3, which should be good for Treaty and investors. As for me, I'm buying more. Things are finally looking good with the probability that all previous problems will be corrected soon. Yep, Treaty is moving it forward. Get Ready!
Thanks Bull for your efforts and onsite reporting. And it seems like the Mitchell #3 should be ready for production by mid week and the Mithcell #4 could be ready by at least the first of next week. But, you appear to be indicating that the Mitchell #4 could have multiple pay zones. Now, that's even better as it means we can possibly produce more from this well than even the Mitchell #4. Cool. Now we're talking. This week should prove interesting for Treaty as real wells are going to be brought on line. This baby is moving forward. Get Ready!
Treaty will prevail in this case. As I have posted already, Treaty had to have proper ownership documents in the form of certified titles just to be able to ship the equipment outside the US into a foreign country. And the foreign country would also inspect the titles. If there was any problem, the US customs would have already picked up on that. And if the equipment was illegally sold to Treaty with a title, then the action of recourse by the plantiffs is toward the persons(s) who sold the goods. So in effect, the case should be thrown out. And Treaty continues to move toward production from the Mitchell #3 and toward completion of the Mitchell #4. News should be coming next week. Get Ready!
Treaty and the P4. For some posters who have possibly misunderstood from some postings what a P4 really is, here's the scoop. A P4 only lists the operator, not the owner. It does not show the transfer of a lease either. For current info, the Mitchell #3 is now fracd and getting ready for swabbing and bringing online for production. The Mitchell #4 is TD'd and being readied for fracing and acidizing and should be ready for production by the end of next week. And the potentially really good news on the Mitchell #4 is that there were three zones of potential hydrocarbons encountered. Yep, three. Investors can now get excited as Treaty with their professional drilling partner TNC are coming through with very probable successes on their first two wells they have worked together on. Finally, this coming week we should see some good news to cheer about and get some value in our investment. Get Ready!
So how do you explain that they are drilling? Guess you conveniently forgot that, eh? What's obvious is that you apparently do not know how Treaty is getting things done, but they are. That should be good enough for investors. After all, we really don't want to run the company from the outside, do we? In the meantime, they continue drilling. Get Ready!
So, please then tell us how in the world they got a permit to drill the two Mitchell wells. Surely a Texas agency wouldn't issue those permits without everything being OK. Kinda like the BK issue with previous losers of a suit against Treaty. They have now essentially filed a frivilous law suit. The judge is probably not going to be happy they did that, ya think? After all, he had just ruled a few weeks ago against them. And today TNC should TD even before I had thought they might on the second Treaty Mitchell well. And they will know from the cuttings if there is another oil show. So with a little testing, we could know by Thursday or Friday next week after perfing and acidizing and initial production what they will have on their SECOND Mitchell well. And for sure we will know the first by Monday or Tuesday. Nice, BIG news is coming. As I have posted previously, Treaty is moving it forward with a really professional drilling team from TNC. Things are happening. If they can continue this pace, we could see ten to twelve new wells by yearend. Get Ready!
So, please then tell us how in the world they got a permit to drill the two Mitchell wells. Surely a Texas agency wouldn't issue those permits without everything being OK. Kinda like the BK issue with previous losers of a suit against Treaty. They have now essentially filed a frivilous law suit. The judge is probably not going to be happy they did that, ya think? After all, he had just ruled a few weeks ago against them. And today TNC should TD even before I had thought they might on the second Treaty Mitchell well. And they will know from the cuttings if there is another oil show. So with a little testing, we could know by Thursday or Friday next week after perfing and acidizing and initial production what they will have on their SECOND Mitchell well. And for sure we will know the first by Monday or Tuesday. Nice, BIG news is coming. As I have posted previously, Treaty is moving it forward with a really professional drilling team from TNC. Things are happening. If they can continue this pace, we could see ten to twelve new wells by yearend. Get Ready!
Let's straighten the record for Treaty! Treaty had a title to the equipment in question. It was issued by a legal government authority. So perhaps one question should be why would the folks who lost the last lawsuit against Treaty try another approach to attack Treaty? Who knows their motive? But one thing for sure is this. Most posters on this board are pretty savy in business. Now the real question for all posters. If Treaty doesn't have a good clear title to their equipment that they sent to Belize, as some on this board have pointed out has happened, please explain how in the world they could have been able to get their equipment through customs of as many as three, and possibly four countries? First it must clear US customs, then it must clear Belize customs if it is being shipped by freighter straight to Belize. Or, if it is being shipped by truck, it must clear US customs, then Mexican customs, then Belize customs, and it may have even gone through Guatamalan customs. So all of those countries have had inspections of the equipment and their titles. Second, if the plantiff's who have previously lost their suit against Treaty have a complaint, they should have filed their suit against whoever they thought stole their equipment from them and then sold it to Treaty. That's the way the law works. So, in effect, this suit appears to be frivilous. On a different hand, Treaty should know within a couple of days what volume of production their first Mitchell well will produce. I'm betting it's a homerun. And within a couple of days, they should TD their second Mitchell well. I'm betting there's oil there also. Are you ready? Get Ready!
Whatever, you live and learn, or some do anyway. As for Treaty, it's on and upward. Surely you are happy for their success, right?
As for Belize, there is one argument that many have left out of the picture. You cannot hold a government official liable for any action after one year of the action. The agreements signed by Princess and other oil companies were signed into effect several years ago and the personal responsibility for making those agreements has long ago passed their time limits. Therefore, the government does have a case for any verdict to be overturned. In addition, as a legislative body can put together a law that will superceed the timeline of any transaction past and cover it with a new regulation that allows consideration of all past agreements so long as all agreements now meet compliance with current regulations. My concern with the judge's initial rendering is how would any company comply with their initial request of having an EPA study for all of their acreage before they even determine which acreage would be drilled on? No company would want to venture into the country for exploratory drilling except to provide an EPA study for only the areas being targeted for drilling. Otherwise the expense would be far excessive. And everyone knows the GOB needs oil tax revenue to help them repay their world bank notes. Otherwise they could go into default and the country would slide into worse economic conditions than they currently experience. Treaty's moving it forward on all fronts. Get Ready!
WOW! More good news! Treaty now will have an additional 1800+ acres of leases to continue drilling in west Texas. So for a quick review:
1. Treaty drills and completes their first Mitchell well and is readying for production.
2. Treaty, with TNC handling the drilling operations, is drilling and preparing for completion of their second Mitchell well by the first of next week.
3. Treaty has announced that they will begin drilling in Belize again, probably sometime next week as some supplies are needed and being currently shipped down for the operation.
I have posted previously that if we could get the first Treaty Mitchell well to produce 15 BOP it would be a nice well. If it could produce 40 BOPD, it would really be a great well. So, here's hoping it comes in at 40 BOPD or above as that would be an indication of a potentially nice reservoir. And as for Belize, if they could complete the San Juan #3 and it would produce above 25 BOPD, it would be a nice well. If it can produce over 50 BOPD, it would be a great well for Treaty as they can drill dozens of similar wells in the area. Now, what if it comes in at 100 BOPD? Yep, it's time to Get Ready!
Call the office and ask them. Their office number is posted on this webpage. And then, Get Ready!
Smile Posters! Good news! Mitchell #3 is being perfed and acidized today. Oil coming. We should know about production next week. Mitchell #4 is drilling and already down to 2300' plus. It won't be long to TD there. Perhaps by late Friday. And Belize is getting ready to drill. Oh yeah! Moving it forward. And as I have posted, Get Ready!
Can you please provide proof of that by a copy of printed material? Or is this just your opinion? All of us would like to know since Treaty has put out information to the contrary in a post. In the meantime, TNC is getting to start the second Mitchell well. And the first Mitchell well could come online for production this week. Get Ready!
Drilling in Belize could continue soon. GOB is primed to request a stay on their injuction and even the Prime Minister indicates that the oil companies are not prevented from continuance of their drilling activities as it was only the GOB that had an injuction issued. Plus, the first Mitchell well is readying for production, and the second Mitchell well is being readied for drilling. We are beginning to see higher highs and higher lows. Treaty is moving it forward. Get Ready!
Pssst! TNC setting up and getting ready for drilling the next Treaty Mitchell well. Get Ready!
I had posted before that if they hit a 15 BOPD, it would be a nice well, and if they hit a 20 BOPD it would be good. Man, you say 80 BOPD. That would be twice what a great well would be. If they do hit 80 BOPD, and they have another well to drill, that might mean they could get to 150 or so with both wells and that would be fantastic. What everyone should remember is that they have a warchest of over $2,000,000 to drill those wells, and they can get to drilling many more in the same area. So what could also happen is that Treaty could get to 600 to 800 BOPD or more this year. That would make them cashflow positive. Now we're talking. Oh yeah! Get Ready!
While I agree with your comments, if I were Treaty I wouldn't post anything just to satisfy some who are continually negative regarding their company efforts. Why would they? Their job is to continue with their operations as best they can which they are currently doing by bringing in professional drilling technicians and getting the job done, right, the first time. That in itself will help in moving the company forward. As I have posted, TNC will be moving the Mitchell rig on to the second Mitchell well site and should begin drilling there next week. And they should again be successful in another nice well for Treaty. Treaty will put out the news when they are ready. Investors will be surprised on how good the company is now doing. Get Ready!
Is one judge the Supreme Court in Belize? If not, then that one judge could be overturned by the full Supreme Court. Then Treaty could be drilling in Belize again. And TNC is getting ready to move their rig to the Mitchell well site #2 and should begin drilling there next week. Things are moving forward for Treaty.
Get Ready!
Wow Bull! These pictures prove your post is real. Interesting how some make so many comments without knowing the underlying situation. Good job, as usual. And now TNC and Treaty can move on the the second Mitchell well. Get Ready!
Not right. Wells need to be 8' apart. That way they can get more wells pumping per acre. Now, get those beers iced down. Treaty is moving it forward. Get Ready!
Nice job TNC and Treaty. Now, let's move that rig onto the second Mitchell well and drill some more. Things are looking up. Get Ready!
Yep. Someone BOUGHT and someone sold. Pretty much how shares are traded, right? And now TNC is down below 4000' and moving down at about 40' per hour? It won't be long now. By tomorrow morning's open, some will know what has happened. Seems a little excitement in the air, and oil in the ground. Get Ready!
Good job bull! If TNC can maintain that 60' per hour rate, they could TD late tomorrow. What is really evident is that Treaty finally has a professional drilling team with the proper rig and supplemental equipment to get the job done. This is a good move on Treaty's part. Now, as you say, hit oil. Get Ready!
NEWS - April, 25, 2013
Steve York, President of Treaty Energy Drilling, has successfully negotiated two new drilling contracts in Taylor County, Texas for Its Wilson 42 Rig.
The first contract is slated to commence by May 15, 2013 and will be drilled to a total depth of 2500ft.
The second contract is slated to commence by June 15, 2013 and will be drilled to a total depth of 5500ft.
Treaty Energy Drilling, a subsidiary of Treaty Energy Corporation, provides contractual drilling services for external parties and is generating revenue for TECO as part of its asset diversification strategy.
Treaty-Moving it Forward! Get Ready!
Nice post coin. And if people would check further, they would find that Treaty has in fact placed a bond at the TRCC which would cover their situation there. In lieu of that, Treaty will be moving it forward with continued drilling, and in all probability they will finish the first Mitchell well next week and then move on to the second Mitchell the following week. May could indeed be a real new beginning for Treaty reaching success in their operations and begin some decent revenue generation. And I know they are working on other situations that would increase shareholder value and company revenue. Then as some have posted, Belize should have their issues resolved possibly by the end of next week, and the drilling of the San Juan #3 might resume within a couple of weeks. There is a lot going on for Treaty right now that is going to improve shareholder value.
Get Ready!
So, what do you do when the doors don't close for Treaty next week? Aren't you for Treaty being successful? After all, they have TNC drilling right now on the Mitchell lease and probably should TD by Monday. Get Ready!
Mitchell drilling at 900' plus. Get Ready!
Wow malbecman, I want some of what you're having. I don't really think Treaty will get to 1,000,000 BOPD by December, even December 2014, or even December 2015. But I do think that with their game plan in place and drilling now being ready in west Texas and drilling in Belize, they could get to 1,000 BOPD by the end of December 2013. Yep, it will take some drilling, but finally things are lining up. Get Ready!