Treaty Energy Corp. (fka TECO)

[tdbowieknife]

The Ministry of Natural Resources and the Environment informs the general public that the information being circulated to the media houses by Treaty Energy Corporation relating to oil discovery in the San Juan #2 well in Southern Belize is false and misleading.

The Ministry categorically refutes the irresponsible actions of treaty energy corporation in its misinformation on drilling success and therefore responsibly advise that an inspection conducted on the mudlog and rock cuttings from the well, by the Geology and Petroleum Department, confirmed only minute traces of tar which is commonly observed in rock formations in many wells previously drilled in Belize that were not commercial.

It must be emphasized that no live oil, in large amounts, was observed in the rock cuttings which normally indicates some level of potential and would require further analysis and testing to determine whether it is commercially viable.
The Ministry of Natural Resources and the Environment assures the general public that all confirmation on oil discoveries will be declared by the government of Belize after proper testing and appraisal. The Government did not endorse the declaration by Treaty Energy and therefore its press release was unauthorized.

(Editor’s Note: The Ministry of Natural Resources’ press release was prompted after Treaty Energy made a press release in which it claimed it had made a significant oil find in the Big Creek Area of Southern Belize. The release went to great lengths to specify where the find was made and at what time. It also highlighted the great potential for future development of the oil field. Skeptics have come out to express the sentiment that Treaty may have put out the press release to increase their stock.)


http://www.guardian.bz/index.php?option=com_content&view=article&id=4362:natural-resources-refutes-treaty-energy-corporation&catid=59:other-news&Itemid=88