Replies to post #51490 on Treaty Energy Corp. (fka TECO)

[Belize Oilwatch]

Reference February 21st 2013 S-8 SEC filing entitled "Securities to be offered to employees in employee benefit plans".

Please note that Treaty Management has previously advised in SEC filings that they have no employees and prefer to get things done on a contractual basis.

So I would guess that the only employees to benefit from the SEC declared share plan will be the management team who I believe were the ones hosting the CC.

In my opinion, Treaty Management Team have not done anything yet to deserve increased remuneration of $420,000. In my view this company is not yet delivering value to its shareholders, so I am confused as to why it is introducing a scheme to increase remuneration to its employees / management at this stage.

What are the other views out there on this?

[geopressure]

I don't know, I think this may be a bit over-optimistic:

Teco can change..and seem to be trying to do that..what remains to be seen ...will be can they bring in a moneymaking well in a so called played out field or lease...

Have you seen the link that discusses Andre Reid's History? If not, here it is:

http://www.nola.com/business/index.ssf/2010/12/new_orleans_newest_public_comp.html

How many times in the past has he convinced clients or shareholders that he would change, yet continued to display of pattern of sustained unethical behavior?

What makes you think that he will change this time?

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Will TECO stumble across a big money-making well anytime soon? The answer is NO. 1) You would have to drill first, and they are not drilling, 2) They do not have any leases with that kind of potential 3) they have sold off royalties on all their TX production, so they will only get 46% of the production, assuming that they can pay for the drilling. If they do a deal for the drilling then they will get less than 10% of the production (though I doubt anyone would consider such a deal when TECO only has about 46% to bring to the table), 4) These guys are hiring Investor Relations people, when they should be using that money to acquire leases with real potential. They priorities are way out of order, & 5) These guys have no idea how to look for a good lease vs a bad lease. A prime example is the fact that they paid ~$3 Million (over $10K/acre) for the East Texas leases that have made only about 170 Barrels and are now shut-in...

So, for these reasons, NO, TECO will not be stumbling across a big money-making well. I hate it for the shareholders, but that is just the way it is...