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Replies to post #88396 on Treaty Energy Corp. (fka TECO)
04/25/15 2:13 PM
To this end the McComas lease has been fully plugged and remediated. This lease is now no longer an obligation of TREATY and its shareholders.
The Respondent has not demonstrated good faith since it failed to timely plug or otherwise place the subject lease and subject well in compliance after being notified of the violations by the District Office and failed to appear at the hearing to explain its inaction.
On this matter, Mr. Tesarski stated, "I am very pleased to announce this project to Treaty Energy's shareholders. As my first major project with the company, I want to ensure that Treaty establishes more transparency regarding its operations. Not only will this project potentially provide a great revenue stream for Treaty Energy, but after the first four wells are drilled, shareholders should look forward to other drilling opportunities on over 31,000 additional acres controlled by Aquinas Energy."
In speaking about the PRIVCO opportunity Mr. Chris Tesarski, Chairman & CEO of TREATY, stated "TREATY shareholders will be pleased to note that the integration of the PRIVCO service platform will now allow the "500 Well Louisiana Project", "Project X" (certain contract opportunities in Central America and the Caribbean), and reinvigorated GEOTECHNICALLY DEFINED operations in Belize to move forward, thereby restoring the opportunity for TREATY shareholders to see value derived from what was a previously difficult chapter in the history of the company. The combination of new management and technically qualified industry personnel in TREATY and PRIVCO will allow value to be realized that had for the most part been written down by the markets and shareholders alike."
"PRIVCO's commitment to integrating a full service operation into TREATY's growth oriented production platform and the ability to network its services to a growing number of energy companies in the Americas make this transaction a very attractive one for TREATY's shareholders," says Mr. Tesarski
To this end, the company wishes to announce the signing of three (3) new leases (defined by 3D seismic) in the Tuscola, TX area, not far from its Stockton operations. These leases will give the company the ability to integrate PRIVCO's service platform into operations thereby giving TREATY a strategic advantage in developing its production operations. In addition to the 3D seismic, TREATY has access through PRIVCO to thorough geotechnical data to assist in making strong, technically sound strategic development and optimization decisions with regard to its operational platform.
As promised, as of August 27, 2014, the company has officially engaged auditors to begin to undertake the process of bringing the company into regulatory compliance.
"I am relieved that we have been able to now fully engage in the process of getting our company into compliance," said Mr. Tesarski. "It has been my number one priority. I have promised this to shareholders and they deserve nothing less than a 100% commitment to compliance."
At the outset of the relationship with TREATY, TEXAS SANDS made it clear that capital was required to ensure viability of its production. TEXAS SANDS has covered the cost of getting its production on-stream and stabilized. We are confident that we should be in full operational production by October and that shareholders will begin to see the levels of production on or near those reported previously. This will also serve the company well in its plan to stabilize operations with consistent, predictable monthly revenue. (turned out to all be complete Bullshit!)
As to the outstanding issues with the TRRC...
There seems to have been some confusion as to the “legitimacy” of TEXAS SANDS RESOURCES LLC as a corporation due to franchise tax filings not being completed. This was an administrative oversight and has been resolved. (this was NEVER resolved... FRANCHISE TAX INVOLUNTARILY ENDED Link here: All of the assets formerly operated by C&C Petroleum Management LLC are currently in the process of being cleaned up by TEXAS SANDS. (more lies! Nothing was "cleaned up", in fact Tesarski REFUSED to comply with the order to plug the 3 wells on the Barnes lease) This is unfortunately an onerous and time consuming process as it is no secret to shareholders that there are significant outstanding issues with the TRRC. However, please be assured that we are working with TRRC and individuals in Abilene, TX with extensive TRRC background and experience to go through the issues and resolve them one at a time. Communication with TRRC is frequent and has been fruitful (LMAO!). We are confident that ALL outstanding TRRC issues can and will be resolved in time. To this end the McComas lease has been fully plugged and remediated. This lease is now no longer an obligation of TREATY and its shareholders. (This is another BIG FAT lie... The State of Texas plugged all the McComas wells because Chris Tesarski REFUSED to comply with the TRRC master default order to do so... The State of Texas will take Treaty to court for reimbursement payment of all the fines that are STILL outstanding to this day as well as for court costs.)
As promised, as of August 27, 2014, the company has officially engaged auditors to begin to undertake the process of bringing the company into regulatory compliance.
"I am relieved that we have been able to now fully engage in the process of getting our company into compliance," said Mr. Tesarski. "It has been my number one priority. I have promised this to shareholders and they deserve nothing less than a 100% commitment to compliance."
Provide A written explanation acceptable to the ERCB addressing the failure to respond and detailing steps to prevent future occurrences
Licensee required to pay security deposit and provide a written explanation acceptable to the ERCB addressing the failure to respond and detailing steps to prevent future occurrences.
Sandbox Energy Corp. failed to comply. Closure Orders No. C 1207 and C 1208 were subsequently issued.
Sandbox Energy Corp. submitted full payment of its security deposit. Miscellaneous Order No. MISC 2010-12A and Closure Orders No. C 1207A and C 1208A were issued. MISC 2010-12, C 1207, and C 1208 were rescinded. However, the licensee’s payment returned as “non-sufficient funds,” and Closure Orders No. C 1207B and C 1208B were subsequently issued.
Sandbox Energy Corp. failed to comply. Abandonment Orders AD 2010-48, AD 2010-49, AD 2010-50, and AD 2010-51 were subsequently issued.
Sandbox Energy Corp. failed to comply. ERCB is evaluating further actions.
The Panel notes that the site has not been reclaimed and accordingly the Surface Lease remains in effect. Submissions from the Applicants show that the Land cannot be farmed, and the Applicants are suffering full loss of use of the site.
Once the Operator’s rights have been terminated under subsection 36(5) of the Act and the annual rental has still not been paid, the Board finds it fair and reasonable for the Applicants to receive the full amount payable and accordingly directs the Minister to make the full payment of $7,800.00 to the Applicants in accordance with subsection 36(6) of the Act.
