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OMG! Drilling rig is setting up and someone said they might even be able to begin drilling this afternoon. Get Ready!
Drilling rig on the Mitchell site. Should be setting up tomorrow and drilling should begin Wednesday. Get Ready!
Your post is only your opinion, and should be taken as such. Of course you also posted that the Supreme Court couldn't be contested, YET, the GOB issued a statement that they would be doing just that. So, you were wrong in that post. Treaty is beginning a new well next week. Get Ready!
"Supreme Court Justice Oswell Legall issued a landmark ruling on Tuesday morning, when he quashed six offshore contracts as “unlawful, null and void,” In rereading this statement, it specifically states, "he quashed six offshore contracts." Let's review:
1. The Princess/Treaty contract that Treaty is working is for an onshore lease.
2. Treaty posted an environmental study for the GOB before drilling.
Perhaps that is why this situation may not even effect the Princess/Treaty drilling program, since it is on land only, and in fact not even in any portion of any protected land areas of preserves or other endangered areas. We should hear something by next week for sure to clarify this position. And also, TNC should finally begin drilling the Mitchell well. For sure I had posted that it would have been drilled by now, but situations do arise beyond Treaty's control on occasion and activity should begin early next week. Get Ready!
We'll see who's correct by next week. Keep this in mind. I posted yesterday that it might be challenged, and some posted that It was the Supreme Court and their decision was final. Now, today, the Belize government, who probably have a tad better understanding of what they can do and not do, has responded with the comment that they will appeal. Really now? So some don't know what's going on. Stay tuned. Get Ready!
Really?
From what a legal explanation offers, the Belize situation may very well be involving only the offshore concessions. That is what is being presented now. In addition, Oceana (whoever they actually are) does not have any legal right to stop anyone from doing anything. They are not a police force and only the government of Belize can do anything at this time regarding the rights of any company drilling in Belize. As of now, there are no companies even drilling offshore, although it is thought that possibly one company has done some seismic on a small area offshore. While it might take a couple of days for the Belize government to issue a statement, remember they are the defendant. And as a defendant, if they compromised Princess's and thus Treaty's situation, then they may be held liable for all costs of Treaty's operations to this date. Therefore, I expect something positive to happen for Treaty and all other companies drilling at this time. In the meantime, west Texas is getting set for drilling. Get Ready!
Not necessarily. And not so fast. A country government has issued contractual agreements. Even though the Supreme Court may have issued a statement of voiding those contracts, the fact still remains that the acting government issued contracts and subsequently companies, or even individuals have spent money developing various programs accordingly. The situation now exists for the government to work with the Supreme Court in such a fashion so that they don't get sued for any damages that they have caused to private or public entities in their course of business. If Princess/Treaty are unable to continue their drilling program, their claim for damages could run into the multi-millions of dollars. Does the Belize Supreme Court want to handle that or allow a continuance of current programs to be completed, but then suspend any further development from any leases that are not being developed as of today? Keep in mind if the government is sued, it could effectively impair any future funds they may require from any international lender. That is not a good situation for the country. Stay tuned, but Get Ready!
I don't know that they will have two wells done in two weeks to start with. So to know what they will be doing in three weeks is an unanswerable question at this time. I do recall that they have posted a few times that they in fact have committed drilling funds for about nine (?) wells in that lease area. Seems the number of about $2,000,000 or so comes to mind. Now, having said that, it also comes to mind that they must hit oil on the first well and possibly the second before these funds come into play. (Perhaps someone might check that out with Treaty management.) However, if all goes well, and certainly Treaty is highly anticipating they will, then they could provide a good opportunity for investors. Get Ready!
BO, even if Princess doesn't have the offshore concessions, and that is still for debate as other legal situations could arise, remember that Priness and Treaty still have about 200,000 acres of onshore leases of which only about 2,000 are currently being worked by engineers for potential drilling opportunities. If Treaty, through Princess do in final, lose the offshore drilling rights for those offshore leases, it really doesn't effect Treaty in any manner. As for any cease of work, Treaty is currently awaiting a new drill bit to continue drilling the San Juan #3. After boring through hundreds of feet of limestone, their bit finally bit the dust, so to speak. But a new bit should arrive either Wed or Thurs and drilling should resume then. As of now they are about 2240' down, or thereabouts. And in west Texas, the Mitchell is being readied for drilling with preliminary activities being completed including a pad, etc, and drilling could commence Wed or Thurs. Get Ready!
You are correct in pointing out the specific commet. However, an investor in a public company is not considered a passive owner of anything the company owns. In fact, they do not even have a UCC claim against the assets of the company. Even debt holders might be subject to this provision of "potential liability" if in fact they hold a lien against that asset, but not necessarily. Perhaps the point was taken by another poster who suggested why would someone post such a comment unless they wanted to spark negative vibes against a public company. In the meantime, Treaty continues to drill in Belize and the drilling operation has begun for the Mitchell in west Texas. Get Ready!
Bull, good work. And thanks for being there to assist Treaty and us as shareholders. Too bad so many think that they know something different than you and you're right there on the ground and in the office in west Texas. Keep up the good work. From the looks of what is going on it certainly looks like these guys know what to do and get it done. As I've posted before, finally Treaty is moving it forward with some real professionals. Looks like a little more work to do before they can actually drill, but my guess is by Wed, or Thurs they should begin the actual drilling and with their equipment and crews it shouldn't take long to score this one. It's about time for some good news. And drilling in Belize should score this week as well. Get Ready!
Mitchell getting ready. Trucks moved in with equipment and platforms and everything for drilling. Yep, Treaty finally getting their drilling program together. Get Ready!
Good. Now get prepared for some action, and Get Ready!
"San Juan #3 News from Belize. Currently at 2112 feet... drilling in the COBAN at 2-4 mins per foot. Looking for shows of oil in the COBAN."
Progress being made. Could TD this weekend or Monday or Tuesday. Oil shows could come by Monday or Tuesday. Is this the same zone other companies are hitting? Now may be the best opportunity for cheap shares. Yep, it's time to Get Ready.
No, I don't. I just find it curious that the two companies would be treated differently. Hopefully Treaty has mended the fences so to speak with the GOB and are complying with their requests so that when they are successful tomorrow or Saturday in hitting on the San Juan #3 we will hear some solid positive news by possibly Monday or Tuesday or Wednesday, at least whenever the GOB approves a final PR for Treaty to announce their results. That's short term. Get Ready!
You forgot something. The company had not by their own PR, completed their testing to even validate that they had oil. Yet they PR'd the potential.
Treaty continues their drilling and this time their efforts may result in a successful commercial well. Get Ready!
Isn't is curious how the GOB allowed this company to post their suspected volume of potential reserves, and criticized Treaty for their reporting the same potential information. (It doesn't matter whether you believe Treaty hit hydrocarbons or not, the comment is to compare how the GOB treated Treaty vs this company.) The real story is that yet another oil hit in Belize. So, how do some continue to post that there is no oil in Belize. After all, Treaty has 1,500,000 acres to drill. But for now, Treaty is moving it along, well, moving it on down, as in drilling to deeper depths. They're over 2000'. It won't be long now. Get Ready!
Tick tock. Tick tock. Not much longer. Get Ready!
If 75 bopd, then we could see .13 again. Remember they have thousands of acreage that indicates possible hydorcarbons. Potentially, they could drill 100 wells, or more. Probably everyone outside of Russia would like to see that happen as it would allow everyone invested in Treaty to make bundles of money. And guess what, this could happen within the next few days. Plus the Mitchell is getting ready for drilling. And this isn't all that management is getting done. So everyone should Get Ready!
What you are posting about happened under the watch of Steve York who apparently didn't do his job of managing the west Texas positions for Treaty like he was supposed to. Otherwise he would still be around. Thankfully, he is no longer in charge and now things are getting done. It does take time, and it for sure takes money, which is then money that Treaty could instead be using for drilling. Captial allocation is on a priority basis of which project needs to get done first. So, it is a difficult situation, but one in which Treaty will prevail over a short period of time. I'm not saying hold your breath, but things are changing for the good, and the best is now being made of all situations. It is probable that the Mitchell will begin this week, the tanks are in place and the pits are ready. Belize is continuing to about 3000' and should TD this week. The Brown is scheduled for setting up the electrical and pump and should begin sometime this week. All in all, leases are being reviewed for potential and capital is allocated accordingly. Get Ready!
So you really do not know. You are only assuming. Why didn't you state you were only assuming they didn't use 3D seismic in the first post then? After all the person who is working with Treaty right now is the person who posted that they did in fact have 3D seismic on the San Juan #3. Surely he would know. In fact that person is currently in the field, and has in fact been to Belize. Just because you can post a contract between Treaty and another party doesn't mean at all that it was the only party to do any work for Treaty. In the meantime, Treaty has resumed drilling in Belize. Hopefully by next Thursday or Friday they will be to total depth and we might know if they hit a successful well. If they do, Get Ready!
How are ou so absolutely sure that Treaty doesn't have a 3D seismic as Bull has posted?
Ah, before that. In fact, before the end of the second quarter. Get Ready!
Absolutely on point. In real life, ie., without dreaming of what a stock might do, or should do or whatever, an investor would probably be prudent to not invest any money in a penny stock that they cannot afford to lose. It's not much different than going to Vegas and betting on any game out there. Even most investors who I know personally, usually never invest more than 2-3% of their entire investment capital in penny stocks. So if you have $100,000 to invest, a nominal investment of $2000 to perhaps $3000 might be OK for a company like Treaty. This is no matter what you might hear or read or listening to anyone touting the stock. Remember this: It is normal for only one company out of five to make it. Venture capitalists usually are looking for a six to one return on their investments. Why? Because they expect to lose all of their investment on one of their deals. They expect to break even on two of their deals, and then they expect to hit their returns on the last two, providing of course they have done their routine job of due diligence on all of them. Sure, some do better, but some do worse. But this is about average. Think about it. However as far as Treaty goes, they are finally in the process of getting some drilling underway that could prove beneficial to their share value, and the company's viability. It is probable that within a couple of weeks shareholders will know whether they have a lease in Belize that has commercially viable oil production, and they will know if the Brown lease and the Mitchell lease in west Texas have any commercial production? So for at least that time, I still think Treaty has something going on a positive level. Get Ready!
So how do you prove premeditation? And when did the premeditation actually begin? And where was it planned? And for how long? As some have posted, that is a difficult point to prove on a legal basis. And then you have to prove that a part of the premeditation was also knowing a projection of value that was essentially absolutely going to happen. How would anyone know that? And then how do you prove that? Remember all of these answers have to be absolute answers that are absolutely factual with no other consideration. And also understand that you have to consider the value of the information fromt he company by the person posting it. IE, what are their qualifications to make the statement. A non-engineer making a factual engineering statement is not going to pass the test of premeditation. Same thing with an accountant making a statement about some field operation. In either case, they become non-expert witnesses and their statements are meaningless in any context out of their area of expertise. But at this time, this is not the issue. The real issue is that Treaty is drilling again, well when the cement is dry and they get approval to continue drilling the San Juan #3. And they should begin the Mitchell lease drilling next week since pretty much all of the preparations are about finished. It's time to Get Ready!
BO, why should Treaty's opportunity to hit oil be a 1 out of 20? What prospects did you give to BNE when they hit about 7 out of 10? Just wondering. Treaty's new well location might just fool you. Get Ready!
panther2's on target. In fact as I have posted, the video of the drilling by Treaty in Belize on the San Juan #2 even showed traces of oil in the flow into the mud pits. That alone is sufficient to prove nothing fradulent was presented. What everyone should be concentrating on for the San Juan #3 is what the GOB will allow Treaty to PR. If they allow Treaty to PR that they did in fact hit oil, then that would be a positive point for Treaty. Since that could be only a week away let's all take a deep breath and kick back and wait and see what happens. Keep in mind that Treaty could in fact hit oil, and then they have to get the GOB to OK a PR. That additional action could take a couple or three more days than when Treaty actually knows they have oil. It's just that Treaty cannot publish it without GOB approval. This well location could prove to be a good one. Get Ready!
Treaty is contracting TNC. TNC, I think, is the parent of Pistol Drilling Company. Someone mentioned that they are located in Oklahoma and have about a dozen drilling rigs of varying sizes up to about 140' tall. It is my understanding that all of their rigs are larger than the largest Treaty rig, which is now drilling the San Juan #3 down in Belize. As for Belize, there is the Schram rig which was the first rig sent down over a year ago. The second rig that was sent down there has been brought back and it was supposedly only a smaller completion rig. Opportunities are finally being placed into operation mode by Treaty. My guess is that they might TD Belize by the end of next week, or the first of the following week. Remember they have to case and cement the well at about 500' which they should hit by Monday. But the cementing needs a day to dry so any presumption of TDing by next Friday is possibly a little anxious hope. Things in foreign countries go a tad slower than in the states. In the meantime, things are looking up. Get Ready!
The Treaty oil rig in Belize is the Schram rig they acquired probably about 18 months ago or so. It's been down in Belize since before the first San Juan #2 was drilled. It seems like Treaty had it on their 10K for 2011. You might want to check it out before any posting of it not being theirs. Also, didn't Treaty mention at sometime that they were making some material repairs to the rig, and also you might want to consider that they would have had to have a title to get the rig through customs, probably not only through Mexico, but Belize as well. As of today, it's drilling. By this time next week, they may have hit oil. Get Ready!
Interesting how some live for today and what the future brings,.... while others continue to dwell on what happened over a year ago and continue to live in the past. Good news Bull. And that rig looks like it can really get the job done. That baby is huge. Finally Treaty has associated themselves with a professional drilling company that has professional equipment and that appears to know what they are doing and will get the job done right. Opportunity abounds for Treaty over the next two weeks. Get Ready!
Belize geology gives Treaty OK to drill. Spud began and drilling down to 90'. Things are heating up. GET READY!
Interesting how 95% of the posts on this board are negative. And yet the company continues to put out current relative information of their drilling campaigns. Sure they may have run a little behind again, but the progress is moving, ... forward. In addition, management in their conference call not only brought to our attention the drilling in west Texas and Belize, but also mentioned that they were working on a couple of other deals for the company that would increase investor share value. I'm betting that those of us who have had patience, even some who have continued to acquire shares, will reap the benefits pretty soon now. Sure, many have been around for a couple of years. In fact, I've been around longer than that... and we've waited and seen a lack of performance, until now. But things are about to change for the better, and for those who reamin positive their patience will be rewarded. It's almost time to ice down the beer and get the steaks ready for the grill. Yep, it's just about time. GET READY!
Do you really think that Treaty is the only company to have a strike and find out that they don't have a commercially viable one? If you would look at the video of their San Juan #2 you would see an oil trace in the mud and water going into the tank. That was before they perfed, which might give them the idea that they had a nice well. It happens. Unfortunately, Treaty treated it a little prematurely. This time around, the GOB will bless and approve everything that Treaty says regarding their well. So if Treaty hits oil on the San Juan #3 and the GOB approves their PR, and it does in fact indicate an oil find, it changes the Treaty picture from one of doom and gloom like so many are preaching to one of excitement and opportunity. Plus about the same time, the Mitchell should be starting to drill in west Texas. Opportunity could be only a couple of weeks away. In the meantime I'm buying more shares. I think it's time to Get Ready!
So without knowing the details, you assume that it is an expensive situation for Treaty? Do you know for sure? After all the main situation it seems to me is just get it done, and in a better fashion than they have before. If you concentrate on the positive points in the picture right now for Treaty, you can see what can happen in the next couple of weeks to change the company in a positive manner. If it prevails everyone better Get Ready!
mepete, that was the value and number of shares sold on the open market. After all, no one would know any other numbers. The company received none of that money as it was simply the value traded in exchange for a sales orders and buy orders openly. The real situation is if Treaty can do that again with an oil strike in Belize that is acknowledged by the GOB and an oil strike in west Texas of say 20BOP? If that happens, you better GET READY!
That's 500,000 bbls BO. At even $85 per barrel that's the equivalent of about $42,000,000 in value. Seems high for one well from my experience. In fact, I've known wells that have had 1/10 of that and have been opened for production. Why are you so sure that the government is requiring something of this magnitude? Have you seen any documents they have with Treaty in the form of actual written agreements? (Keep in mind that even routine posted guidelines may be altered in discussions and determined then by separate agreements.) I mean, I hope Treaty hits something like the amount you stated. After all, they have sufficient acreage to drill hundreds of wells. But even just ten at the same value puts them at about $420,000,000 and one hundred puts them at $4,200,000,000. So effectively, if they do have acreage that indicates real production opportunity like you indicate, they could be looking at a hundred wells, perhaps more. Damn, when you look at it like that, just about a $5000 investment today gets you a potential return of about $50,000 if they hit this first Belize well with the numbers you indicate. And if they were to hit a second of equal opportunity, Wow! All I can say again is,.... Get Ready! Holy Cow. Get Ready!
Teaty indicated they had a show of hydrocarbons in their San Juan #2 well. Further testing possibly indicated that there wasn't sufficient production capacity for a commerical well. If you watch the video of the drilling, you even see a stream of oil visible in the waterflow from the well mud. Perhaps you might review it. And as the old man would say, what happened yesterday is pretty much old news today. The questions now are 1. will Treaty hit oil with the San Juan #3, and the next questions are 1. have they hit any commercial production in the Brown, and 3. will they hit oil in the Mitchell which should start next week? If they hit positives on these three, then the race begins. The next two weeks could hold the fate of Treaty in west Texas and Belize. It if time to Get Ready.
When attorneys do that, they are pretty darn certain they will win the case. Otherwise they can spend tens of thousands of their own dollars, and come up with nothing in return for the hundreds of hours spent preparing and interviewing and reviewing regulations and in this case, travel as well. Maybe it's time to quit crying wolf and see what is going to happen with Treaty. Within only the next two weeks, they have the potential of the Brown coming on with something. Heck, even if it's a 5BOPD it means success, even if somewhat less than wanted. And the Mitchell should begin drilling next week. If that comes on with possibly 20BOPD, then that is a measure of success as well. Remember the company has informed us that they have the capital funding in place for continued drilling of up to somewhere around 30 wells in west Texas, provided they prove up some oil in their leases. Even if the Brown were to produce 3-4BOPD it is a payback in five months for the drilling costs. That's not too bad. And then there's Belize which hopefully the company can get the final go ahead from the GOB today for drilling. After all the rig is in place on the drilling platform and all systems are on standby for drilling. From what the company has presented on their conference call it appears the well is sited good and it appears there is potential for a nice commercial production. Here again, if the San Juan #3 could produce even 20-30BOPD it would be a really nice well. After all, Treaty has enough acreage with what appears hydrocarbon shows to drill perhaps 50-100 wells there. Now, they just need to hit #3 and the race is on. Get Ready!
Who's going to front the money for the attorney? It could easily be $25K up front and if it went to court, it could easily be another $100K, to be paid before the court date appearance. In the meantime, instead of bemoaning Treaty, consider what all the activity is right now, and additional action coming within days. Get Ready!