Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Belize didn't even know they had drinking water till an oil company found it. So much for there geology dept.
Yep, they hurt a lot of people for no reason
We shall see. looks thin to .08
Bounce bounce.
Eric, belize did the same thing to bne. Politics during election time. pandering to the tree huggers.
here we go.
3rd world politics, the belizeans have no spine. politicians that is
Almos done with selling, gap fills we move up i think.
They did the same thing to BNE, they denied BNE was producing oil for 18 months!!!
Treaty Energy Provides Confirmation of its Belize Oil Find
http://finance.yahoo.com/news/Treaty-Energy-Provides-prnews-672548019.html?x=0
That and an 8K filed yesterday. We have oil baby.
Yes, teco is doing great. Wait till Texas dials in.
This is an ongoing news story with constantly conflicting information- it was posted on http://www.7newsbelize.com/sstory.php?nid=16094
Andre Cho is the CEO of the Petroleum Dept and he was forced to come out and answer questions after the concerted media campaign that has been running in BZ and with the support of the DI blog.
The Truth About the Never Delay Oil Field
On January 12th we told you about an article appearing in the Belfast Telegraph, an Irish newspaper. It disclosed previously unheard of details of Belize’s oil industry as presented by Susan Morrice – a principal shareholder in Belize natural Energy. Most notable among the many revelations was that the Never Delay Oil Field had been declared commercial – as far back as November fifth, 2009! So why was nothing said by the Government of Belize? What was interpreted to be official secrecy only fed latent suspicions and misgivings that the government and people of Belize were being systematically deprived of the proceeds form this non renewable resource.
But today the Director of the Department to Petroleum and Geology Andre Cho told us that – more or less – it’s all a misunderstanding. He explained that the Never Delay #1 oil well was drilled in early 2006 and BNE they appraised the discovery over 18 months – leading them to declare it commercial in November of 2009. Well, we knew that part…but Cho added that government has not agreed to its commerciality because an Environmental Impact Assessment is still in the works – and until that is approved, government can’t get sign off.
Cho discussed this and other aspects of the Never Delay Oil Field.
Andre Cho, Director of Petroleum and Geology
“I know people think we’re keeping it secret, it is a conspiracy. It is not a conspiracy. They submitted a notice to us declaring the field commercial on November 5th and along with the notice a development plan for the development of the field. They also completed an EIA for the development of the field because that is required and right now that EIA is under review by the NEAC and what’s left for us to do in regards to the declaration is for BNE and the Government to sign a Declaration of Commerciality and to agree on the field boundary. Once that is signed, we will put out an official announcement. I know Susan Morrice has already declared that in the Irish media but that was a bit premature but I can’t speak on her behalf.”
Jules Vasquez,
“What is the status with the level of extraction from Never Delay?”
Andre Cho,
“Well there is no extraction at Never Delay right now because like I said the EIA is still under review. It has to be approved and then once BNE has received approval from the Department of the Environment then they can proceed with the development of the field and production. So right now the two existing wells they are not producing anything.
In regards to the reserves, the reserves is only about five million recoverable oil and each well, both Never Delay 1 and Never Delay 2, will produce 3,500 barrels a day compared to the Spanish Lookout Field which has proven recoverable reserves of 14 million and about 4,200 of production per day.”
Jules Vasquez,
“So if a comparison is made, the oil field at Never Delay hardly compares to Spanish Lookout.”
Andre Cho,
“Yeah it is about one third the size.”
The plan is that the oil from Never Delay would be channelled via a pipeline to Spanish Lookout where all the oil would be collected. That’s possible because the oil at never delay is the same type as the one at Spanish Lookout – light sweet crude.
There’s much more from out interview with Cho in tomorrow; newscast as he discusses the total cash yield so far from the two hundred and ninety six million, two-thousand, six hundred and eighty four barrels of oil that have been extracted from Spanish Lookout since 2006. He’ll also discuss oil prospects in Gallon Jug and Calla Creek.
Don't think they have covered that yet.
Here's Andre Cho caught in many lies... These Belizean politicians are a piece of work.
http://dialogueireland.wordpress.com/2010/01/29/andre-cho-is-forced-to-answer-questions-after-campaign-on-the-di-blog/
Over 5 million shorts todays and think it was 14 million on the 30th.
http://regsho.finra.org/FORFshvol20120131.txt
Not only that but politics being played by politicians with no backbone.
Black gold!
Like a v12. This thing is just getting started.
Texas is drilling 12 wells, we should be seeing permits soon
Think I'm catching up on you with the marks buddy.
Yup, another lie put out by environmentalist militants.
You're pics from Belize were photoshoped and proved to be wrong. Now you comeup with this. lol
lol, there you go.
I have 20 something mark while you have 80. You have a headstart there.
I was yelling go baby go! Freaked a few people out.
What a great close. Did you all see that?
Yesterdays short numbers almost 15 mil short:
20120130|TECO|14824955|0|45031210|O
http://regsho.finra.org/FORFshvol20120130.txt
over 100k buy just went through
TECO is trying to push up into the close.
The momo is coming. Don't worry, the price will come. TECO will continue to produce
Last 2 hours of trading coming up. Like to see TECO break the 9's
lol, he's the reason we're trading right below that.
Treaty energy is 7 on most popular articles in rigzone:
http://rigzone.com/news/article.asp?a_id=114680&hmpn=1
look on the right side and you will see it.
Yep, typical lunch time action.
TECO started to move right after 8k
TECO 8K out on oil strike: http://filings.issuerdirect.com/data/1075773/000135448812000365/teco_8k.htm
Nice, confirmation!
Word is getting out, many major oil news sites picking up story:
http://www.oilonline.com/default.asp?id=259&nid=37323&name=Treaty+strikes+first+Belize+oil