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I believe TECO IR contact has some explaining to do in relation to the lawsuit by former employees.
I will post their response.
maybe 10 barrels of crude for the month. Again, being optimistic.
I highly doubt it.
Treaty has been promising oil since 2009. lol
I would ask all investors to call IR and inquire as to why individuals that took a lose in a different company were offered shares in TECO to make up.
Where there is smoke, there is often fire.
Is TECO really just a pump and dump scheme as per the lawsuit?
I took a huge lose in that company and was NEVER given any shares in Treaty.
IR will be receiving a phone call.
It will be interesting to see what role these individuals have played in this company.
FRANKLY, looks like IR has alot of answering to do come Tuesday morning.
Very interesting
Smoke and mirrors is the statement 1000 bpd by June. They cant even produce a barrel.
Frankly, I already made my money on this stock, but realized along time ago they dont deliver on what they say they will. Same story line as last company.
In my opinion, we will be hearing about some lawsuit from Treaty suing a bank and landowners for $300 million bc they repo the rig.
hmm. that sure sounds familiar ???
End of June is coming fast. We will see who is correct. lol
10 bpd by years end. And thats being optimistic.
FMI what are u referring to??
I didnt call anyone names. What i quote is from the Treaty lawsuit. Nothing more, nothing less.
Now, if you would like to discuss the fact that Treaty has been telling shareholders they would be producing oil now for 2 years.
Thanks smithsd7 for your due diligence. With the great information you provide, investors can make a educated decision to invest in this company or not. I really appreciate the information on the major shareholder. How many lawsuits has this guy been involved with? He is in the midst of a pump and dump lawsuit involved with Treaty. lol
As of end of 2010, Ron Blackburn still owns 67,353,946 or 13.6 % of the oustanding shares.
I would say that classifies as a major shareholder.
TK Holdings was dissolved, but considering the Alonzo's and Ron Blackburn owned TK, its a mute issue. Ron still controls the company.
Yes the major shareholder (wink wink) still holds majority interests.
TECO management doing a poor job of producing oil. They continue to push PR's and cant deliver results.
Only time before this falls.
No oil in 2009, 2010, or 2011.
lol
Thanks. A long ways from 1000 bpd.. I assume you would agree?
Hmm. I disagree.
Has Kansas closed?
Has drilling started in Belize?
Some ole story from this company.
Crank out the PR's and drop a couple of smoke bombs while selling shares.
Its in the lawsuit.
viki
i have been involved with oil leases for last 13 years and i appreciate your level of due diligence. When it smells rotten, you call the company out. Great work you do for this board.
New Management doing such a wonderful job.
Do u think they even know what oil looks like?
The oil rally is off again. LOL. And talk of a supercontango of WTI oil.
Oil settled below $101 Thursday as disappointing U.S. economic data and renewed euro-zone debt worries stoked fresh oil demand concerns.
Oil's decline after Wednesday's 2 percent gain on tighter U.S. distillate inventories dragged the 19-commodity Reuters-Jefferies CRB index 0.4 percent lower.
The latest U.S. growth estimate for the first quarter showed an unrevised 1.8 percent rise, but that was below expectations, and corporate profits unexpectedly shrank while weekly jobless benefit claims rose.
Treaty hasnt produced any oil yet, except the 1 bpd. LOL
Some posts are putting the cart before the horse. And yes, Treaty management has lied. and then they hide behind the "forward looking statement". Its all in the lawsuit. This is getting good.
I continue to hear 1000 bpd of oil by end of year. Some even suggesting oil in June. Track records are a great indicator of future plans. Has Treay ever done something they have PR'ed they said they would do in the timeframe at which they state? NOPE.
I have been around the major shareholder and IR person for many of years, and I do recall Treaty would be producing oil by end of 2009. Here we sit in 2011, and still nothing but smoke and mirrors. Drilling in Belize by July 2010 if i recall. I add a zero on the timeframe TECO states on any drilling prgram or acquisition.
Teco management, the oil is back. just an fyi.
I would think the likes of Chevron, ExxonMobil, ConocoPhillips and many other majors have perfected the art of drilling for oil in the past 50 years. Maybe Treaty has an ace up the sleeve, but i would think not.
If that. Some ole story, just different year. Another fluff PR.
Great info smith. How does an IR guy authorize shares? Am i missing something?
Its called a track record. Again, broken promises since 2009. Same ole story. 2 years later, still NO oil and NO revenue.
Lets be honest, the major shareholder is the one negotiating the deals, or at least for much involved. He has been since day one, and still no results. He has a track record as well, and we both know that.
Until that swamp rat is out of this company, it will be nothing more than a print shares and PR machine. Again, its called a track record. Same 2 people at it again.
1 barrel of oil before years end. LOL
Another pump and dump scheme the IR guy and major shareholder have been associated with. In the last 4 years. Your right CashCowMoo, something doesnt smell right.
sounds like Treaty. Continue to promise oil... since 2009.
Per latest 10Q. No oil, NO REVENUE
I'm sure people will still be sitting around talking about all the potential oil Treaty will produce in 2012. But still same ole story. NO REVENUE.
Same story line since 2009. Will be producing oil any moment. lol
I hear the opposite. Heard they have a great case.
Treaty should focus on securing finaincing so they can drill. I dont see any oil revenue until next year at best. Given their track record on sticking to a timeline they publish.
As far as scamsters, there is still one left as a major shareholder. Until that swamp rat is out, nothing is going to change.
Viki - notice the new board members today, none of which are connected to Princess. Talk about stacking the deck of cards... hmmm
What are your thoughts?
Your post is inaccurate so let me educate you:
Its called share dilution, not value dilution.
No oil produced once again, some ole story from company. Announce deals with no follow thru on closing. Promise the world and deliver zilch.
NO REVENUE.
Some people said Treaty would be producing oil by end of 2009. LOL
Some predictions just never come true, even though some continue to dream.
Treaty hasnt produced any oil since inception. Now the latest is 1,000 bpd before years end.
Belize wont happen. Its all smoke and mirrors. Just like the company.
When is that lawsuit by former employee's? LOL
Some of this board stated Treaty would be producing oil by 2009, i guess some predictions just never come true. When some dream big of Treaty on this board, they dream big. Treaty back down below 1 cent by end of year or before. Thats my prediction. No oil = NO REVENUE.
Some just never learn.
Here is free education. lol
Until permits are granted, PR's are useless. same ole same ole story.
Treaty is great at vague PR's. hmm. drilling. yah right. Guess it can stand up in court on why the company went bankrupt, IMO of course. A date was never given.
Treaty Energy Corporation (OTCQB: TECO), a growth-oriented energy company in the oil and gas industry, today announced it has acquired two additional leases in Texas, the SHOTWELL W. F. and the SHOTWELL "C" leases.
Treaty indicated that production on these leases is currently 4.18 barrels of oil per day. These leases require no work over and were purchased for their current production value, but more important to Treaty Energy is the additional 30 virgin well drilling sites which will be added to the list of wells that Treaty's new Failing 1500 CF Drilling Rig will start drilling when permits are granted to do so. Private financing to fund the drilling had been arranged prior to the acquisition of the Failing Drilling Rig.
Stephen L. York, Treaty Energy's Vice President of Acquisitions and Operations, stated, "These leases are two of the most advanced small leases in the Country. Scientific evaluations have been done as an experiment to see what can be achieved with a maximum effort and scientific approach. Fluid levels have been 'shot,' water flooding plains logged, and geology available."
Mr. York stated further, "The upside to this acquisition is that Treaty now has an additional 138 acres to drill on, which represents 30 or more virgin well sites.
Its hard to begin drilling without the proper permit secured. That could be bad if Treaty is beginning their "drilliong program" without state approval. If so, hello lawsuit.
Are they producing oil yet? Fully reporting or not, TECO continues to portray they are an oil company. Proof is in the pudding. My toughts, Braksdale is gone due to TECO not spending any money on those leases. I bet RB promised him the moon and didnt make good on his word. Sound familiar?
When did Treaty open an office in New Orleans? Why would Treaty not use their corporate office address? the address listed on their website. Treaty continues to operate under the cloak and dagger theory. IMO of course
Treaty Energy Corporation
The Lyric Business Centre
440 Louisiana - Suite 1400
Houston, TX 77002
$65 is a reasonable number for Treaty Energy's involvement. By the time you add in typical landowner royalties, other investor percentage points in the wells, (truck) transportation costs, and on going operating costs, i dont think Treaty can obtain the full price of WTI benchmarked crude. But just my opinion.
Interesting. I have relatives in the oil biz located in Throckmorton and Anson, very close to the "proposed" deal. We will see.
Treaty Energy Corporation has signed a definitive letter of intent to purchase additional producing oil and gas leases in the Shackelford County Regular Field, in the Texas 7B Oil District.
yah, i have to laugh when you go quoting 100 crude this year. Since you sit in the board room from time to time at RDS, you must hear all.
Call around to some trading shops. Ask if the phone is ringing when it comes to physical delivery of products. You might learn something. You might even agree with me. Its called DD. Try it. You might even make money off it.
BTW, you seen treaty PPS lately. Lol. For such a big deal in belize, obvouisly not many taking the bait. PPS continues to trend down.
ahh, CNBC trick. Go back 3 weeks ago, they were predicting 90 crude in mid may. Its now mid may, and its trading 68. Evidently you didnt listen. Crude oil is down bc of oversupply in cushing. Thats the delivery point of NYMEX wti.
Its very simple. economics 101. Oversupplied market.
Do i think it will remain at this level. No way. But it will not hit 100 this year either.
At this point, it remains unclear if Treaty is drilling or even has production. Who knows. Company not very transparent as they said they would in Dec 2009.
Just as i predicted, crude could possibly hit 65 in the next several days. 100 is just around the corner, as some have predicted.
I wonder how this will impact Treaty? That is if they are producing oil as they say. Cant wait till the qtr report is filed. Anxiety is killing me