Treaty Energy Corp. (fka TECO)

[Belize Oilwatch]

Bull. The wireline truck is still onsite in Belize.

I saw it there yesterday (May 12th 2012) when I visited the site.

But your comment about what is imprudent in the oil industry isn't right.

IMO it was imprudent - almost negligent - not to have a logging unit available when San Juan #2 well hit TD in January.

Treaty surprised me at that time by having no plans in place to log the well, despite electric logs being required in exploration wells in Belize.

Spending all that time buying and upgrading their own logging unit, rather than renting one of the available logging units in Belize, certainly cost Treaty a lot as the well colapsed blocking the potential payzone. So right now they don't really know if they have any oil reserves in Belize or not - whereas if Treaty had done it right, then they (and their shareholders) would know one way or the other by now.