Let no-one tell you otherwise. Find out the facts and make your own minds up.
The involuntary bankruptcy petition, filed in May 2013, was dismissed in June 2013.
Treaty have re-opened the case and are seeking damages citing impact to their business.
The January 2014 10-Q SEC filing, filed after the involuntary bankruptcy, showed that 3Q 2013 was the best quarter that Treaty had ever had. Mainly - I believe - due to the oil revenues from Mitchell 3&4 and lower admin costs.
The December 9th announcement that Treaty had sold Mitchell 3&4 was - in my opinion - a surprise to most shareholders and Treaty watchers, as was the stated shift in focus from revenue from oil and gas production to making money by asset disposals. I expect the end 2013 10-K to be particularly illuminating in this regard.
And as for Belize, the facts show that the information on the Treaty website is misleading and out of date. The Princess concession is no longer 1.5 million acres. San Juan 3 had been plugged and abandoned. There is no Treaty drilling activity going on in Belize and Treaty's drilling equipment (including logging truck and rig) is still lying at Escalante's garage in Independence.
Cheers
Belize Oilwatch
Placencia, Belize CA
