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Say what you want but TECO is for real and when the well is finsihed and flowing oil in early April you will wish you had a ton of TECO.
Yes VNDM was there for a short time and left. Good riddence. Hey I am over 2 mil shares so I want to see this pps go up. I am glad there were no trades under .058. Still hope for a close over .06 Go TECO.
I agree with you but right now there are no buyers and VNDM is now on the scene. And no news in the near future so we have to go thru this downslide in the pps. What are we producing now? 20 bopd if we are lucky. Not good to hold up the pps.
With no news coming soon this stock will go down below .055. We could see that today. Nice if we close over .06 but I am not seeing that. Tighten your belts because these are now tough times for TECO. And when will we get the OK for our new drilling in Texas? Too many things stacked up against us. There will be no Belize news till April.
The offer is .068. The real bid and ask is pulled at the end of the trading day and then put back in at the beginning of the trading day. I wish it would open with the offer at .068 but it will not happen. It will open with .062 to .064. I know you are ill and I wish you well. Go TECO.
If Rambler comes thru then we will go over 7 cents today. I like that we are up on low volume. Go TECO.
BNE lost their drilling rights because they did not drill in the time allotted to them. This will not happen with TECO because they have the money and backing to make sure they drill their concessions on time so as not to lose this valuable billion barrel and dollar consession. We are in a win win company with strong leadership and backing. Go TECO.
AFSE
Item 1.01 Entry into a Material Definitive Agreement.
Acquisition of Oil and Gas Interests
On August 31, 2011, we entered into a participation agreement with Bering Exploration, Inc. relating to 365 mineral acres located in Beauregard Parish, Louisiana, in which we hold a 5% interest. Under this agreement, we have agreed to participate in the drilling of an initial test well, which is to be drilled to a depth of approximately 10,800 feet under a turnkey contract with Bering.
On September 12, 2011, we entered into a Share Purchase Agreement with Treaty Energy Corporation. Under this agreement, (A) we purchased 400 Class A Voting shares of Treaty Belize Energy, LTD (“TBE”), which shares represent 4% of such class of shares; (B) we paid $100,000 in cash for such shares; and (C) we have anti-dilution protection. We also hold an option to purchase additional shares up to10% of TBE, at a total cost of approximately $500,000. In addition, we hold an option to purchase up to 15% ownership of Paradise Energy, LTD for up to one Year at a cost of $360,000, $25,000 of which has been paid by us as a deposit.
In January 2012, Treaty Belize Energy (TBE) reported that it had drilled its initial well near Independence Village, Belize, located adjacent to the Port of Big Creek in the Stann Creek District, and that oil in commercial quantities had been detected. The defined producing zone is between 1,235 and 1,290 feet. The level of initial production from this well is expected to be approximately 60 barrels per day. There is no assurance that this well will produce oil and/or gas in such quantities as would benefit our company. That is, production from this well may never result in cash distributions to us. A second, deeper well on the lease owned by TBE is planned for an as-yet determined date. There is no assurance that the second well will produce oil and/or gas.
We do not currently possess sufficient capital with which to make the further investments described above and there is no assurance that we will be able to obtain such needed capital.
Item 2.01 Completion of Acquisition or Disposition of Assets.
On August 31, 2011, we entered into a participation agreement with Bering Exploration, Inc. relating to 365 mineral acres located in Beauregard Parish, Louisiana, in which we hold a 5% interest. Under this agreement, we have agreed to participate in the drilling of an initial test well, which is to be drilled to a depth of approximately 10,800 feet under a turnkey contract with Bering.
On September 12, 2011, we entered into a Share Purchase Agreement with Treaty Belize Energy (TBE). Under this agreement, (A) we purchased 400 Class A Voting shares of Treaty Belize Energy, LTD (“TBE”), which shares represent 4% of such class of shares; (B) we paid $100,000 in cash for such shares; and (C) we have anti-dilution protection. We also hold an option to purchase additional shares up to10% of TBE, at a total cost of approximately $500,000. In addition, we hold an option to purchase up to 15% ownership of Paradise Energy, LTD for up to one Year at a cost of $360,000, $25,000 of which has been paid by us as a deposit.
We acquired these interests with funds on hand.
Item 7.01 Regulation FD Disclosure.
Oil and Gas Business Plan
As we indicated in our Quarterly Report on Form 10-Q for the period ended September 30, 2011, we have acquired an interest in two oil and gas prospects. Our intention is to be involved in the exploration, development, acquisition and production of oil and gas. Our involvement in the oil and gas business can be expected to take any form of ownership and participation, depending upon the opportunities made available to our company.
Risk Factors
An investment in our common stock involves a high degree of risk. You should carefully consider the risks described below before deciding to purchase shares of our common stock. If any of the events, contingencies, circumstances or conditions described in the risks below actually occur, our business, financial condition or results of third party operations upon which our royalty and similar interests may depend could be seriously harmed. The trading price of our common stock could, in turn, decline and you could lose all or part of your investment.
Risks Related to Our Company
Our limited history makes an evaluation of our company extremely difficult, and profits are not assured.
In view of our lack of history in the oil and gas business and the fact that we do not have a current revenue stream from operations, it may be difficult for investors to evaluate our business and prospects. Each investor must consider our business and prospects in light of the risks, expenses and difficulties frequently encountered by companies in their early stage of development. For our business plan to succeed, we will engaged in the following activities: find and acquire rights in attractive oil and gas properties; develop or cause third parties to develop the oil and gas properties to a stage at which oil and gas are being produced in commercial quantities; procure purchasers of commercial production of oil and gas; comply with applicable laws and regulations; identify and enter into binding agreements with suitable business partners for future projects; raise a sufficient amount of funds to continue acquisition, exploration and development programs; respond to competitive developments and market changes; and attract, retain and motivate qualified personnel.
There can be no assurance that we will be successful in undertaking any or all of such activities. A failure to undertake successfully most, if not all, of the activities described above could materially and adversely affect our business, prospects, financial condition and results of operations. In addition, there can be no assurance that exploration and production activities, if any, will produce oil and gas in commercial quantities, if any at all. There can be no assurance that sales of oil and gas production will generate significant revenues for a sustained period or that we will be able to achieve or sustain profitability in any future period.
Cumulative voting is not available to shareholders.
They did not have enough signatures for the referendum to get on the ballot for next weeks election. So forget it and what people are saying. TECO is in great shape and at the end of March we could be over 12 cents. Go TECO.
What is going to happen today? Will we close higher or lower?
Belize will be known as the little Saudi Arabia. Go TECO.
I like what you say and hope you are successful in raising the pps. If you are in ill health I wish you a speedy recovery. Glad to see your posts. Go TECO.
I told you before. I use TD Ameritrade and it is free and not behind like you say. It shows level 2 and changes immediately before your eyes. Current right up to the second. Just open an account and all trades are just $9.99. You are paying for old news. Go TECO.
You are wasting your money for a level 2 that is never correct.
Your level 2 chart is wrong. Not current.
TECO
USD Treaty Energy Corp
Last [Tick] $0.0631[-]
Change $0.0021
% Change 3.44%
Bid [Tick] 0.0631
Bid Size 5000
Ask $0.0635
Ask Size 163000
Open $0.061
Volume 2,803,908
Day High $0.07
Day Low $0.061
Previous Close $0.0601
Prev. Close Date 02/21/2012
Could it be a scam to get the pps over .06 and then sell 500K? We will find out when the market closes. TECO will do fine on its own. All we need is good news. Let's see what Rambler says. He was so boastful yesterday that he has to say something today. I say we do not hear from him. Go TECO.
I think we were too optimistic to think that he could get the pps to .07. If it is too good to be true it usually is. Still I am hopeful but only give it a 10% chance of happening. Just hope we do not hit the 05's again. Go TECO.
They are happy that the blow out preventor is doing its job on the well in Belize. I don't want to lose one quart of the oil. Go TECO.
You will find out in mid-March how well our big gusher is doing?
TECO is the best penney stock money can buy. Go TECO.
Not really good news. Good news is that we started drilling on those new wells. And maybe that kept us from going under .05. Market closed Monday. Go TECO.
Anything over .055 will be a good day and hopefully we can climb back to .06 in a few days. Monday the market will be closed. We could use some news. Go TECO.
I said that they would get this to .05. I hope that will be the low and never hit it again. Go Teco.
You can see the big wall they are putting up at .055. They do not want it higher and it will not due to the lack of buyers. I will buy at .052. Go TECO.
Nothing is happening now in Belize. They are waiting for equipment to resume drilling which is still about 2 weeks and then 2 weeks of drilling to get the oil flowing. They will drill much deeper on the well. I don't know if that will make it longer to get the oil flowing. Go TECO.
I doubt we see a good day today. All signs say we could go to .05.
There are buyers but only at .053 or less and all sellers who may give in and sell to them taking it to .05. Only news that we may expect will be about Texas and that will not do much or come soon.
I am long but just being a realist. Go TECO.
Can anyone find out if the Jan sales for TECO can be found or can you find out productions numbers for Jan? Is there a way to find this out? Thanks.
Looks like we could go to .053 and eventually to under .05. There are no buyers but only sellers now. This is sad for those that bought much higher and just goes to show how they messed up the oil release and not willing to update Texas. Many have a right to be mad but that is how it goes.
I see today as a bad day. We recovered last week when the pps went to .055 but I do not see that happening today. I see us going under .055 and I hope I am wrong. The company is lax with the news about TEXAS and they do not and are not obligated to give us updates which is what we need to sustain the pps. So we just have to grin and endure a lower pps. Again, hope I am wrong.
Go TECO.
Go TECO
Didn't you sell some to renovate your kitchen?? And then later said you were buying??
How are the bids stacking up now??? It is a huge grind just to make it to .06 and stay there.
The bachelor will be in Belize this Monday nite. He will see everything but no oil wells. Still nice to watch since some of us will be visiting Belize spending some of our huge profits. Go TECO. Break .06.
I think Shannon can enlighten us all on anything important relating to TECO. Please Shanon tell us something. March 1 and TECO will be fully disclosed and a pps of over 20 cents. Bookmark this post. Go TECO.
Shannon - I would like to get your latest opinion on TECO. Thanks.
Looks like NITE has the upper hand. Hope we can close over .06.
Go TECO.
Can someone explain why someone bidding .0615 for 16K shares would not buy it at .062?? The difference is $8. If you want the shares would $8 hold you back from buying?
MM stacked up against us at .063 and .064. Danger hour is now here. If we stay above .06 by noon then it could be a good day and by that I mean no close under .06. Go Teco.
I do not know what some are seeing on level 2. My read is it will be hard to to get to .065 and will be happy with that for a close. If I am wrong then I hope it is because the pps is higher. Now that they put out Dec sales will they be putting out monthly sales on a timely schedule? I would hope so and now no reason for not putting it out. I still want to see an update on Texas and daily production numbers. The company knows what it is and should put it out for us. Go TECO.
Oops, looks like we have a high opening and maybe I will be wrong. Go TECO.
I bet there will be after hours trades today. Go TECO.
Nice close. I love it. Looking forward to tomorrow. Have a good day. Go TECO.