Replies to post #77217 on Treaty Energy Corp. (fka TECO)

[bigsur25]

I think Treaty's team is finally taking shape , now they might look like the 68' Mets , but , well we know how that played out the next year .

[bigsur25]

Was there any down time or work overs , power outages, numbers ,can be added up in different ways to show what is needed I'm sure Treaty could add things up to show other numbers .up time is one way look at production .And real world like you did .

[SCHNAUSER]

That is only 1.21 BOPD per producing lease. If you add in all the leases, then you get only .60 BOPD. Not enough to pay expenses imo and certainly not enough to be considered to be producing in paying quantities which is the TRRC and the Texas legal standard to maintain the leases in force. I've been in court over it before and won each time. You simply have to produce oil in sufficient quantities in Texas or the landowner can have the lease canceled. No prudent operator would want leases like these.