No you can't take Treaty PRs or information on Treaty Website as fact.
Best first to compare Treaty PRs and website against what actually happened, and you will find unfortunately that they contain misinformation (which is a nice word for not telling the truth).
Comparing today's Treaty Website against the truth, for example:
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Treaty Website
About Treaty Energy Corporation
"Treaty Energy Corporation is a profit and growth-oriented energy company focused on utilizing strategies and techniques that maximize crude oil and natural gas recoveries in volume as well as investment dollars spent. Treaty's acquisition and development plan is well defined and crucial to this process."
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The truth:
Treaty have never made a profit and haven't grown their energy base (they have close to zero energy assets).
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Treaty Website
Belize Operations
Overview
•Operating on 1,500,000 concessionary acres in Northern and Southern Belize
•Concession located both on-shore and off-shore for future expansion
•Entirely self-sustaining single-tier drilling program with $1,600,000 in assets
•Two completed exploratory wells confirming presence of Campur carbonate.
•Three identified areas of interest for future exploratory operations
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The truth:
- Agreement with Princess has lapsed - so they have no rights to any acreage
- Under Option agreement Treaty lost their offshore rights in 2012 by missing deadlines as agreement was designed to give them a share in the areas that they actually did work in.
- Drilling program was not self-sustaining (conversations with people close to Princess make me believe that Princess have impounded Treaty assets due to amounts owned to Princess by Treaty)
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Treaty Website
Belize Well Status
Well Name Drilling Status Operational Status
San Juan #1 Completed On-going analysis
San Juan #2 Completed On-going analysis
San Juan #3 Drilling Drilling
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The truth:
Well Name Drilling Status Operational Status
San Juan #1 Completed Dry Hole P&A Program Submitted to GPD
San Juan #2 Completed Dry Hole P&A Program Submitted to GPD
San Juan #3 Suspended Dry Hole P&A Program Submitted to GPD
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I don't really have time to do the PR comparison that you suggest but my sworn statement posted here on December 16th and signed and submitted to the SEC on the same day documented several of the major discrepancies between Treaty PRs and the truth from late 2011 until now.
Good luck with it all.
Cheers
Belize Oilwatch
Certified Petroleum Engineer
Belize City, Belize CA
