Treaty Energy Corp. (fka TECO)

[Belize Oilwatch]

It is impossible to calculate the bookable reserves for Treaty Oil Belize. Of the 7 things that Treaty would need to measure in the field or study in the lab to certify their reserves with SEC, they have done none. IMO

The SEC has established rules for reserves reporting so that all companies cannot just make up numbers about what they have found. These rules apply to majors, minors, independents and all. For example see this link http://www.sec.gov/rules/final/2008/33-8995.pdf

In addition to booking reserves with the SEC, reserves are also used to help plan developments, as in Treaty PR of 1/30/2012 where they stated that a large number of wells (90) were needed to tap their estimated reserves over the 350 acres. For comparison, BNE's 16 million barrel field with a maximum production of 4500 bpd has about 15 producing wells.

My calculation of potential reserves is professional but as I said before the equation is easy but the input data is hard to come by. That is why I based my calculation on a minimum and maximum range of values. I was surprised by two things from my calculation:
(1) How Treaty don't have any of the information required yet to certify reserves ith the SEC. IMO
(2) How low the range of reserves came out to be with even the upside based on 350 acreas and 50 feet thickness coming out way short of the 5-6 million quoted by Treaty.
I have been very clear in my postings, it is not my intention to misinform. Being as how all you guys are shareholders in a start-up oil company, I though you would be interested in tapping into the experience of an oilman. Are you?
And finally stiflerz28caamarohemi, you mention an 8k filed with the SEC. I cannot find any 8k that mentions reserves, please could you point me to the one you are talking about.