Replies to post #57120 on Treaty Energy Corp. (fka TECO)

[pennystockpro1]

Fact: The Prime Minister of Belize stated the ruling by Justice Legall was "egregiously wrong" and the filing of the appeal was "light work" because "the errors were so patent and so multiple."

[junkHustler]

Not sure how anyone can dispute that. Its been acknowledged by everyone. TECO has just decided to ignore it. And I am sure the GOB will let TECO waste their shareholders own money so the GOB doesn't have to.

These are the facts. The Belize Supreme Court Judge said that the concession was "illegal, null and void" Because it was awarded without a competitive biding process, Without assurances that they could handle a emergency and was capable of doing the work and that the Government did not do a EIA before deciding whether the concession areas should be put up for bid in the first place.

He made NO distinction between offshore and onshore. It just happened to be that those are the concessions that Oceana was suing the Government over. And not only that but the offshore and onshore concession is ALL ONE CONCESSION.

So the fact is that Treaty is now drilling in Belize without a valid PSA. That is a FACT and it is also a FACT that it is unprofessional for a oil company to ignore the law and drill despite a court injunction not to.

I am not out of line in saying Treaty is acting in a unprofessional way in Belize. They are drilling in potentially sensitive areas without doing any seismic or a proper EIA. With a proper EIA the people of Belize would have been given a public review process. That did not happen with any of Treaty's concession areas.

Treaty without seismic is just poking holes in the ground...