Treaty Energy Corp. (fka TECO)

[Belize Oilwatch]

dloggold - Thanks for your question. Not sure why I had never tried to calculate this before. The calculation took me back to my early days as a field Petroleum Engineer.

IMO the range of potential reserves from the well in Belize so far is 0 to 2 million, but Treaty have not met any of the requirements for reporting any of these as reserves yet.

I have based my calculations on reported data or typical values for the following parameters:
First I calculated Oil In Place (OIP based on following ranges:
Thickness (ft) 15 to 50 (Range of Treaty reported values - I think)
Net-to-Gross (%) 50 to 80 (Typical range IMO)
Porosity (%) 8 to 12 (Treaty Press release 2/1/12)
Residual Water Saturation (%)40 to 20(Typical range IMO)
Drainage Area (acres) 4 to 350 (SEC will only accept 4 acres based on well drainage area in Treaty Press Release 2/1/12. Max 350 for development planning purposes is also from the same Treaty Press Release)
Formation Volume Factor (%) 1.5 to 1.4 (Typical range IMO)

Then Potential Reserves are OIP * Recovery Factor
Recovery factor (%) 5 to 30 (Range based on Min primary recovery; Max pumping)

I have a spreadsheet of the calculation, which I will send to anyone who wants it - just send me your email address via IH messaging.

Please note this is just my opinion based on available data and a lot of estimates as most of data is not available.