The well will soon produce oil and also Belize wells will be also producing oil soon. These are exciting times for all TECO shareholders.
Andrew V. Reid, Chairman of Treaty Energy Corporation, announced, “Treaty has purchased a Wilson Double Drum Pulling Rig in a cash transaction. This unit, valued at $185,000, will be used to complete the ‘Nine-Well Project’ (to 3000 ft) that will be started upon completion of the McComas #20 well that is currently being completed.”
Mr. Reid added, “The funding for the ‘Nine-Well Project’ is in place and upon completion of the McComas well the funding will be released.”
Finally, Mr. Reid stated, “Treaty continues to move forward with our accumulation of national and international holdings and our Q3 revenue will be substantially increased over past quarters, a trend that will continue through Q4 of this year.”
