Treaty Energy Corp. (fka TECO)

[Belize Oilwatch]

Princess Petroleum Ltd has one Production Sharing Agreement with the Government of Belize (GoB), containing both onshore and offshore acreage (there are not two separate concessions).

The judgement today is not against Princess, it is against the GoB.

I understand that without a legal agreement work cannot be carried out on any of the 6 named concessions.

As I said previously, I am not an attorney so I am not clear where this leaves the Princess/Treaty onshore exploration activity in Belize on a legal basis, however as a retired oilman and Belize resident I would like to see Treaty continuing with their onshore exploration plans as long as they continue to work to International Petroleum Industry Standards - as required by the Petroleum Act of 2000.