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Treaty Energy Corporation TECO
Posted On: 03/08/2014 11:26:56 AM
Post# of 39368
Posted By: arstegall
Re: Dead Cat Bouncer #26047
DCB, I know you see 400+ BOPD from these well and lots of gas but it is not as simple as just drill down a few hundred more feet. When you apply for a drill permit you list the depth that you would like to drill. Lets say that we do indeed hit that shale play, then what? TECO does not have the money to do multiphase fracturing and long horizontal completions. If the hit the shale the TRRC will force them to try and producing it, that is how the state makes its money. That would BREAK TECO!!!!!If we did find the shale we could not just cement it up because we did not have the funds to complete and come up hole and complete in one of the limestone formations like on the Mitchell and Stocktons. We would have no choice but to sell the lease or get a partner and give them a large %. This could be a good thing or it could blow up in TECO's and our face. I share your excitement but I just don't feel that TECO is ready for a project like that. If we continue to improve quarter over quarter and buy and sell more leases then one day we will. JMO













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