The 18 companies with petroleum contracts are: BCH International Inc, BelGeo Ltd., Belize Natural Energy, Blue Creek Exploration Ltd., Island Oil Belize Ltd., Miles Tropical Energy Ltd., Northern Spirit Resources Inc., OPIC Resource Corporation (now abandoned), Perenco Limited, PetroBelize Ltd., Princess Petroleum Ltd., Providence Energy Belize Limited, RSM Production Corporation, SOL Oil Belize Ltd., Spartan Petroleum Corporation, US Capital Energy Belize Ltd., West Bay Belize Ltd., and ZMT International Inc.

Companies have up to 8 years to explore for oil, and 25 years to undertake production and pump oil commercially out of the ground. If no oil is found within the eight-year exploration phase, the contract “self-terminates,” meaning it is no longer in effect.  


So we must sell some of the oil we find or the concession becomes void. 


So sell some oil from one of the wells in Belize and then they will have to let us announce what we found.  Because they will not be able to take it back legally.