Treaty Energy Corp. (fka TECO)

[geopressure]

Bad news in disguise... This says that they have drilled two 80' holes, but aren't able to drill any deeper or set their conductor casing. Looking at satellite photos, this does appear to be a pretty swampy area. They might ultimately have to dig canals & use a drilling barge to get the job done. Drilling Barges are surprisingly cheap, however... I think that this announcement will be the first of many such communications that describe delay after delay... This indicates to me that we are looking at months before we get any verifiable results, perhaps 1st quarter 2011...