Treaty Energy Corp. (fka TECO)

[yogowypi]

Small Cap Network News

Treaty Energy Corporation (PINK:TECO) shares were trading in the $0.027 range on June 27 and the next day it released its Q1 and a spike started…

Revenue for the First Three Months of 2012 was $57,016, up from $0 Revenue in the First Three Months of 2011; Total Assets at March 31, 2012 were $2.037 Million, up 398% Over Total Assets of $409 Thousand on March 31, 2011.

Additional Paid In Capital increased to $9.7 Million at March 31, 2012, up 675% from $1.25 Million at March 31, 2011; Total Stockholders' Equity Improved by $591 Thousand to a Negative $290 Thousand at March 31, 2012, as Compared to a Negative $881 Thousand at March 31, 2011. Nice turnaround.

Treaty Energy acquires and develops oil and gas leases which have "proven but undeveloped reserves" at the time of acquisition.

Shares have risen from that $0.027 range on June 27 to today’s price of $0.071 range; a gain of 162.9% in less than two calendar weeks.

Sustaining the Spike

On July 9 TECO management announced the acquisition of four new Oil & Gas Leases in Eastern Texas, and its plan to re-enter and re-complete the MADELEY F1H well in Shelby County, Texas.

On July 10 TECO gave a progress update on its San Juan #2 Well in Belize. Max Mohamed, Treaty's Director of Operations in Belize, said, "The San Juan #2 well was cased and cemented in on Friday, July 6th. After allowing 24 hours cure time on the cement the well was checked for the cement bond and then the well was case-hole logged."

Mr. Mohamed added, "On Monday July 9th I met with the GOB (Government of Belize) Geology Department to present and discuss the well logs, and I am pleased to report that the GOB is in agreement that the log shows three zones of interest, one each at 500 ft, 850 ft and 1200 ft. Based on these findings the GOB has given permission to perforate, acidize, and test the well for production."

With such positive news coming from the Company, it’s no wonder that shares have spiked.