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  4. Treaty Energy Corporation (TECO) Message Board

The only problem with TD's or anyone else's interp

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Post# of 39368
Posted On: 10/01/2013 12:13:22 PM
Posted By: blindinvestor
Re: Steede #20429
The only problem with TD's or anyone else's interpretation or even the GOB designation is that the SJ3 has not been finished. So, as of now, it is not producing and therefore could be considered a dry hole, but as a matter of fact, when the drill bit was only down to 1000' it could also have been considered a dry hole as they had not encountered oil at that depth. Treaty is still trying to bring in the well, and I would hope that with what management change has been made to the positive in Texas, they would also do the same in Belize. IE, if there is no oil or hope thereof, they would completely give it up and not spend any more money there. BUT, they have in fact made the decision to continue toward completion. Probably their initative is from the positive results from two previous tests that each indicated oil in the hole. Now, they are simply trying to prove it up. While most of us are getting ready for some positive results in west Texas, if the SJ3 were to come in with oil, then you sure as heck had better Get Ready!


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