Treaty Energy Corp. (fka TECO)

[smithsd7]

A summary of the Acquisition PR’s and 8-k’s updated

Form 8-K
http://www.sec.gov/answers/form8k.htm
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Press Release dated: Jan 09, 2009
http://www.financialnewsusa.com/finance/archives/6625-treaty-energy-corporation-2
Enters LOI to acquire the VAGO #1 Project,. Taylor County, Texas(west texas)160 acres
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Per PR dated July 30, 2009, acquisition completed.
http://investor.wedbush.com/wedbush/?GUID=9596283&Page=MediaViewer&Ticker=TECO
8-k filing date: Aug 4, 2009 (Entry into Material Definitive Agreement)
http://www.sec.gov/Archives/edgar/data/1075773/000111650209001175/0001116502-09-001175-index.htm

Per PR dated, Oct 8, 2009, acquisition rescinded.
http://investor.wedbush.com/wedbush/?GUID=10336976&Page=MediaViewer&Ticker=TECO
No 8-k filed (Termination of Material Definitive Agreement), but noted in the 10Q filed 11/16/2009.

Press Release dated: July 9, 2009
http://www.istockanalyst.com/article/viewiStockNews/articleid/3340419
Enters LOI to acquire a 360-acre lease in Taylor County, Texas

Per the PR dated Oct 8, 2009, "closing on this possible acquisition is delayed".
http://investor.wedbush.com/wedbush/?GUID=10336976&Page=MediaViewer&Ticker=TECO
As of yet, no 8-k filed (Entry into Material Definitive Agreement)
The acquisition never happened.

Press Release dated: July 15, 2009
http://www.istockanalyst.com/article/viewiStockNews/articleid/3350692
Enters LOI to acquire a 113 acre Baker lease in Brown County, Texas

Per the PR dated Oct 8, 2009, "closing on this possible acquisition is delayed".
http://investor.wedbush.com/wedbush/?GUID=10336976&Page=MediaViewer&Ticker=TECO
As of yet, no 8-k filed (Entry into Material Definitive Agreement)
The acquisition never happened.

Press Release dated: Aug 7, 2009
http://investor.wedbush.com/wedbush/?GUID=9678174&Page=MediaViewer&Ticker=TECO
Enters LOI to enter into a 50/50 Oil & Gas Joint Venture ("JV") with Discovery Resource Group, LLC
DRG is to secure an initial credit line from a bank of $2 million 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.

As of yet, no 8-k filed (Entry into Material Definitive Agreement)
No mention of this (JV) in the 10K for 2009 nor in any 10Q for 2010.
The (JV) never happened.
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Press Release dated: Oct 8, 2009
http://investor.wedbush.com/wedbush/?GUID=10336976&Page=MediaViewer&Ticker=TECO
Agreement to acquire 54 oil and gas leases with Town Oil Co. in Paola, Kansas.

8-k filing date: Oct 14, 2009 (Entry into Material Definitive Agreement)
http://www.sec.gov/Archives/edgar/data/1075773/000111650209001568/0001116502-09-001568-index.htm

Per the Press Release dated, Jan 5, 2010, the agreement was completed.
http://investor.wedbush.com/wedbush/?GUID=11344539&Page=MediaViewer&Ticker=TECO

Per the Amended Sale and Purchase Agreement closing won’t be until Sept. 2010, or if extended, Dec 2010.
8-ka filing date: 1/12/2010 (Amended Material Definitve Agreement)
http://www.sec.gov/Archives/edgar/data/1075773/000111650210000035/0001116502-10-000035-index.htm

Per the Press Release dated, 12/20/2010, Treaty claims to have a funding commitment of $9 million for this property deal and that the purchase agreement has been extended to February 21, 2011.
http://newsblaze.com/story/2010122103295900001.mwir/topstory.html

Per the Press Release dated, 2/28/2011, "Treaty's lender is located in an area that has been affected by continued severe weather which has caused the lender to ask for a closing date of April 1, 2011."

In the 'Subsequent Events' entry for the 10k filed on 4/15/2011 it did not list this funding commitment nor did it state that the Kansas deal had closed.
The 10Q for 3/31/2011 filed on 5/16/2011 clearly indicated that, as of 3/31/2011, the Kansas deal had not been closed and there was no mention of the Kansas deal in the Subsequent Events section.

As of today, still no word from the company if the Kansas deal has been closed on.

(See IHub post titled "Kansas and Belize projects")
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also in this PR:
SAGO Lease Ended the lease relationship
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Press Release dated: Oct 29, 2009
http://investor.wedbush.com/wedbush/?GUID=10576563&Page=MediaViewer&Ticker=TECO
A letter of intent to purchase 56 wells on 600 acres near Converse, Louisiana.
The terms of the purchase are $350,000 cash at closing and one year owner financing for $650,000.
The lender for this acquisition is Midwest Capital Investments LLC, (registered in Florida, Dan Olson).
Per the 10-k for 2009, "The deal fell through do to inablility to obtain financing".
http://www.sec.gov/Archives/edgar/data/1075773/000135448810001193/0001354488-10-001193-index.htm
The 10,000,000 shares, posted by the “unnamed affiliate” as collateral, were forfeited.

Press Release dated: Nov 13, 2009
http://investor.wedbush.com/wedbush/?GUID=10768905&Page=MediaViewer&Ticker=TECO
Announces it is a acquiring a 70% net working interest in an oil and gas lease in Morgan County, Tennessee.

The lender for this acquisition is Midwest Capital Investments LLC, Dan Olson).
The Press Release dated: Dec 21, 2009 announced that the acquisition was successfully closed on.
http://investor.wedbush.com/wedbush/?GUID=11214454&Page=MediaViewer&Ticker=TECO

However:
Excerpt from 10-k for 2009, concerning this lease.
http://www.sec.gov/Archives/edgar/data/1075773/000135448810001193/0001354488-10-001193-index.htm
"As of the date of this report, we have been unsuccessful at obtaining financing to pay the promissory note and the seller has not transferred title to these assets."

Excerpt from 1st 10Q for 2010 "We owned no oil and gas properties at December 31, 2009 or March 31, 2010."
http://www.sec.gov/Archives/edgar/data/1075773/000135448810001706/0001354488-10-001706-index.htm
The acquisition never happened.
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Press Release dated: April 4, 2010
http://investor.wedbush.com/wedbush/?GUID=12595641&Page=MediaViewer&Ticker=TECO
Announced the acquisition of three (3) oil wells and ten (10) gas wells from Discovery Resource Group, LLC.
The 3 oil wells are located in Venango County, Pennsylvania.
The ten gas wells are located in the Centerville and Mead districts of Tyler County, West Virginia.

As of yet, no 8-k filed (Entry into Material Definitive Agreement)
No mention of these acquisitions in any 10Q for 2010.
The acquisitions never happened.

Press Release dated: April 15, 2010
http://investor.wedbush.com/wedbush/?GUID=12691384&Page=MediaViewer&Ticker=TECO
Announced that it concluded the acquisition of five oil and gas leases in Tennessee on April 13, 2010.

Per this PR the leases are in Pickett County, Tennessee.
Byron Hill #1
H. Groce #1
H. Groce #2

Coleman Crouch #4
Wilburn Hill.

There were no 8-k’s filed (Entry into Material Definitive Agreement)
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As per the 10 Q for June 30, 2010 concerning the Tennessee leases:
http://www.sec.gov/Archives/edgar/data/1075773/000135448810002585/0001354488-10-002585-index.htm
TECO’s interest is 100% undivided working interest (82.5% royalty interest)
Price: 1.5 million shares of TECO which were contributed by “a major shareholder”.

The Tennessee leases were:
Robin Moody, 18.5 acres (1st shut in well reopened in Tennessee)
“On May 27, 2010, we entered into an agreement to sell 50% of our working interest in the Robin Moody #1 well for $20,000 in cash.”
“On June 11, 2010, we sold a 20% interest in the Robin Moody lease for $55,000 in cash.”

From the PR dated Sept 16, 2010
http://findarticles.com/p/articles/mi_pwwi/is_201009/ai_n55246328/
"Oil production has decreased to approximately 2 barrels of oil per day."
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Joseph Schwallie, 47 acres (2nd shut in well reopened in Tennessee)
” On June 11, 2010, we entered into an agreement to sell 35% of our working interest in the Joseph Schwallie #1 well to an investor for $20,000 cash.”
“Also on June 11, 2010, we entered into an agreement to sell another 20% of the Joseph Schwallie #1 well for $55,000 in cash.”

From the PR dated Sept 16, 2010
http://findarticles.com/p/articles/mi_pwwi/is_201009/ai_n55246328/
"To date we have been pumping water with small crude oil shows."
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Herbert Groce #1, 77 acres(3rd shut in well reopened in Tennessee)
“On June 18, 2010, we entered into an agreement to sell 50% of our working interest in the Herbert Groce #1 well for $45,000 in cash.”

From the PR dated Sept 16, 2010
http://findarticles.com/p/articles/mi_pwwi/is_201009/ai_n55246328/
"...we plan to plug and abandon the well."
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Herbert Groce #2, 80 acres
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Leeta West, 20 acres
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Byron Hill, 18.5 acres
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Terry Williams, 18.5 acres
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Kimberly Hicks, 18.5 acres.
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The Press Release dated: June 24, 2010 announced the addition of the COLEMAN CROUCH lease to its oil and gas lease properties in Pickett County Tennessee.
http://finance.yahoo.com/news/Treaty-Energy-Adds-Another-iw-1359885099.html?x=0&.v=1

But, the 2nd and 3rd 10Q's for 2010 made no mention of the Coleman Crouch #4 nor the Wilburn Hill.
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Press Release dated: April 22, 2010
http://investor.wedbush.com/wedbush/?GUID=5845413&Page=MEDIAVIEWER
Entered into a 50\50 Joint Venture Agreement with Princess Petroleum Limited.
As part of the joint venture Treaty will have the right to explore for oil and gas on a total of 2,000,000 acres.
Treaty intends to start drilling its first well no later than July 1, 2010.(It didn't happen.)

As of yet, no 8-k filed (Entry into Material Definitive Agreement), but mentioned in the 10Q, dated June 30, 2010.
http://www.sec.gov/Archives/edgar/data/1075773/000135448810002585/0001354488-10-002585-index.htm

See the post titled "Kansas and Belize projects" by smithsd7 for other information.
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Press Release dated: April 1, 2011
http://www.marketwire.com/press-release/Treaty-Energy-Acquires-Oil-Gas-Company-1421275.htm

Announced the purchase of C&C Petroleum Management LLC, an Indiana company, with oil and gas properties in Texas.
Indiana SOS webpage:
https://secure.in.gov/sos/online_corps/name_search_results.aspx?search_name=C%26C+Petroleum+Management+LLC&search_type=exact&client_id=&submit.x=44&submit.y=8&search_mode=search

This purchase includes the following leases:
HENDERSON LEASE - 40 Acres
LONG LEASE - 37.5 Acres
BARNES LEASE - 80 Acres

8-k filing date: April 5, 2011 (Entry into Material Definitive Agreement)
http://www.sec.gov/Archives/edgar/data/1075773/000135448811001099/0001354488-11-001099-index.htm

The 8k states that the acquisition of C&C closed on March 31, 2011.
The Sale Agreement says that the closing date is set for April 8, 2011.

From the "Assignment of Oil and Gas Lease.pdf", which is downloadable by clicking on the heading "Texas" on Treatys "Project" webpage, the TRRC Lease numbers are listed as:
HENDERSON LEASE - TRRC District 7B, Lease #00324
LONG LEASE - TRRC District 7B, Lease #00324 (same as Henderson Lease, weird, "Long" lease doesn't show up)
I could find nothing on the "Long" lease, due to the wrong Lease number.
P. H. BARNES LEASE - TRRC District 7B, Lease #08680 and #25394
This number (P – 17 #5596) is also shown for the Barnes lease. I don't know what significence it has.

Treaty says that the Barnes lease is producing 10 to 15 barrels of oil per day.
http://www.marketwire.com/press-release/Treaty-Energy-Acquires-Oil-Gas-Company-1421275.htm

The TRRC site doesn't confirm this number.

Production records can be found at:
http://webapps2.rrc.state.tx.us/EWA/specificLeaseQueryAction.do;jsessionid=mHVTNypdQSJjn097vhqdLZynyvh8kyl72yVh8LxhD2by8QZhLQ2b!1597989945
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Also in this PR:
"Stephen York joins Treaty Energy as Vice President of Acquisitions and Operations for the State of Texas and will oversee operation of the drilling process in Belize."
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Press Release dated: April 12, 2011
http://www.prnewswire.com/news-releases/treaty-energy-to-acquire-producing-oil-and-gas-leases-119687634.html

Treaty announced it has signed a LOI to purchase additional producing oil and gas leases in the Shackelford County Regular Field, in the Texas 7B Oil District. Treaty says that this acquisition is projected to close on April 14, 2011.
See "A second Press Release dated: April 20, 2011" below for the 8k link.
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Press Release dated: April 20, 2011
http://www.marketwire.com/press-release/treaty-energy-purchases-drilling-rig-and-drilling-contracts-otcbb-teco-1504764.htm

Treaty Energy announces the purchases of a small, shallow-well drilling Rig.

8-k filing date: April 20, 2011 (Entry into Material Definitive Agreement)
http://www.sec.gov/Archives/edgar/data/1075773/000135448811001229/0001354488-11-001229-index.htm
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A second Press Release dated: April 20, 2011(Shackelford County)
http://finance.yahoo.com/news/Treaty-Energy-Acquires-Two-prnews-2226412180.html?x=0&.v=1
Treaty Energy announces the acquisition of two additional Texas leases.

"Treaty indicated that production on these leases is currently 4.18 barrels of oil per day."
"Private financing to fund the drilling had been arranged prior to the acquisition of the Failing Drilling Rig."
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The lease numbers are from the 8k filed on 4/21/2011:
http://www.sec.gov/Archives/edgar/data/1075773/000135448811001241/0001354488-11-001241-index.htm

SHOTWELL W. F. TRC Lease #7B-03520
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPublicQuery=Y&name=SHOTWELL%252C%2BW.%2BF.&univDocNo=556395

SHOTWELL "C" TRC Lease #7B-28384
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPublicQuery=Y&name=SHOTWELL%2B%2522C%2522&univDocNo=552808
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPublicQuery=Y&name=SHOTWELL%2B%2522C%2522&univDocNo=558344

From the TRRC production records I don't see 4.19 barrels of oil per day; I see less than 2 barrels per day. The records for march hadn't been submitted when I last checked.

Specific Lease Query Criteria web page at the TRRC:
http://webapps2.rrc.state.tx.us/EWA/specificLeaseQueryAction.do;jsessionid=mHVTNypdQSJjn097vhqdLZynyvh8kyl72yVh8LxhD2by8QZhLQ2b!1597989945

#7B is the imput for 'District' and the following number (e.g.03520) is for the 'Lease No.'

Be sure to set the date range.

Per the Treaty PR dated 4/29/2011
http://finance.yahoo.com/news/Treaty-Energy-Updates-iw-2380195453.html?x=0&.v=1

The closing on this acquisition has been delayed until June 7.
The following letter, in a .pdf file, is from the seller's attorney addressing this situation.
http://media.marketwire.com/attachments/201104/25114_Clavo-GreenRiver-Treaty-ConfirmLtr.pdf
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Press Release dated: May 11, 2011
http://www.marketwatch.com/story/treaty-energy-corporation-establishes-drilling-company-2011-05-11
Treaty Energy announced that it has established the subsidiaryTreaty Energy Drilling, LLC a Texas company.
Quote from this PR, "Our new drilling company will be acquiring a second drilling rig immediately to perform all drilling operations that will be required in Belize."
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Press Release dated: May 23, 2011
http://www.marketwire.com/press-release/Treaty-Energy-Acquires-Eight-Additional-Oil-Leases-in-Texas-PINKSHEETS-TECO-1517758.htm
Treaty Energy announces that it has acquired eight additional Oil Leases in Texas.