Looks to me like Treaty has things lined up.
ABILENE, TX--(Marketwire - 08/07/09) - Treaty Energy Corporation (OTC.BB:TECO - News) today announced a Letter of Intent ("LOI") to enter into a 50/50 Oil & Gas Joint Venture ("JV") with Discovery Resource Group, LLC ("DRG"), a Delaware limited liability company.
Initially, DRG will pledge 19 wells from 4 affiliated partnerships and TECO will pledge 9 wells to a bank to procure an estimated $2,000,000 line of credit for drilling and work overs of wells.
The line of credit is projected to do work overs in West Texas, radial jet lateral line work overs, and drill new wells in Tennessee.
