Treaty Energy Corp. (fka TECO)

[blindinvestor]

HRT, with millions of dollars spent on 3d seismic, and tons of other data failed in their attempt to hit oil on their first attempt off the coast of Africa. Even though Shell had hit other wells reasonably close, they failed to hit commercial quantities. So just because you have the latest and greatest seismic and other data doesn't mean you will hit oil. Thanks for posting the correct interpretation of what actually happened for Treaty. In fact there were oil traces, but not commercial viable quantities at all. As for San Juan #3, the verdict is still up in the air but remember this time Treaty drilled to lower than 3500', so they are in a new possible zone of opportunity. There is oil in Belize as evidenced by the success of BNE, and perhaps a couple of other smaller hits by companies. Let's hope Treaty hits a nice commercial well also. So the question is; What volume of production does a well need to produce to be considered commercially viable?
10 BOPD?
20 BOPD?
40 BOPD?
60 BOPD?
100 BOPD?
Or more?
The time is close at hand to know if Treaty has a successful well in Belize. Get Ready!