Treaty Energy Corp. (fka TECO)

[tdbowieknife]

The ridicules "exploration" drilling campaign in Belize.

Treaty spuds San Juan 1 and 2 in Belize. With much fanfare they drill San Juan 2 first and declare a "oil Strike".

Problem is they have NO proof of any oil. The Government of Belize's response.

There is no oil only tar balls...

The GOB demands that Treaty prove the 6 million barrel claim by producing oil from San Juan 1 and 2 and drilling 8 more wells around San Juan 1 and 2 to determine the field size and potential reserves.

Treaty never produces a single drop of oil from San Juan 1 or 2... A year later Treaty declares the wells not "commercially viable". The Belize department of Geology and Petroleum declares them "dry holes" and with NO oil shows of any sort.


Treaty's grand plans.

2013 Oil and Gas Development Plans.

Phase-1:

Drill and Complete third exploratory will in San Juan prospect – 1st Quarter

Determine final disposition of San Juan #1 and #2 wells – 1st Quarter

Plug and abandon wells that are deemed non-commercial – 1st Quarter

Phase-2:

Acquire detailed micro-seepage maps of area of interest along the southern highway – 2nd Quarter

Review existing seismic data to identify structural or stratigraphic features – 2nd Quarter

Drill and complete at least two wells in this area- 2nd QuarterPhase-3:

Acquire detailed micro-seepage maps of area of interest near Hellsgate – 3rd Quarter

Review existing seismic data to identify structural or stratigraphic features – 3rd Quarter

Drill and complete at least two wells in this area- 3rd Quarter

http://www.treatyenergy.com/sites/default/files/2013%20DEVELOPMENT%20PLANS.pdf

None of this came even close to happening. Nothing but stalling and BS from Treaty. It has taken Treaty 8 months so far to drill San Juan 3 and they are still stalling.

After all the misleading, fraudulent and plan old BS from Treaty I'm surprised they didn't boot them out of the country after the fake oil strike.

The GOB and the Geology and Petroleum Department as well as Princess Petroleum have got to be feeling insulted by Treaty. That is why I believe the GOB after giving Treaty a deadline of August 31st to show Proof of any oil anywhere and Treaty not meeting that deadline, the GOB published this updated map of 3 dry holes with NO oil shows...


http://estpu.gov.bz/images/GPD/Geophysical/Seismic%20Aeromagnetic%20Surveys%20and%20Wells%20Drilled%20in%20Belize.pdf

After all this BS from Treaty, why would Princess or the GOB want to renew a contract with Treaty Energy???

Treaty's has 3 more wells to plug. That could take many years...