Bull is exactly right. As far as I am aware the plan is to drill ahead in the first well to 3500 or 4000 ft (depending on how deep they can get with the rig that is there) then do electric logging on the three payzones that Treaty expect to find, including the one that they drilled but couldn't log previously.
I hope Treaty can plan the whole operation better this time, as to drill to 4000 feet and then wait a long time for the logging unit to return from Texas (if is there for the Texas wells) is an unnecessary risk to the well, which might collapse again if left open for a long time.
Also they will need the casing and cement available onsite to case the hole as soon as it has been logged if payzones are confirmed.
Regarding Treaty drilling, there are a few things that I don't really understand that could be a significant revelation in the 10-k once issued:
(1) Who owns the drilling equipment (Treaty Energy Corp or Treaty Drilling LLC)
(2) Does Treaty Energy Corp own Treaty Drilling LLC or did they sell it to someone else? If the latter who owns it?
[This information is as important for Treaty Shareholders as what is going on in Texas and Belize, as this has a big impact on Treaty Energy Corp current assets and cost base]
