Treaty Energy Corp. (fka TECO)

[Allisone]

TECO INDEPENDENT CLAIMS NOW RESTRICTED IN BELIZE

Andrew Reid, chief executive of the New Orleans and Houston-based explorer, told Upstream he was not able to comment about the company’s exploration activities in Belize, in a 50/50 joint venture with Princess Petroleum, owners of Belize’s Princess Casino.

He would only say that “in the future we must have Government of Belize and Princess Petroleum approval prior to issuing any statements”.

http://www.upstreamonline.com/live/article303714.ece

WOW! We knew the disputed Belizean oil claim caused a strain on investors and the Government of Belize.

However we did not know this also caused a strain on their 50/50 partner Princess Petroleum. This just elevated inherent risk. An upset country, upset shareholders who bought in on the news and an upset partner...go TECO!