Treaty Energy Corporation Newsletter for the Week
Post# of 39368
Posted On: 11/18/2013 3:28:54 PM
Treaty Energy Corporation Newsletter for the Week of November 18, 2013
This newsletter is for the week of November 18, 2013 and contains current information on Company operations as of November 15, 2013. Information contained in this newsletter may be outdated at the time of release. Prior issues of the newsletter may be found on the Company’s website located at http://www.treatyenergy.com/investors/news .
Corporate Filings (Treaty Energy Corporation):
As required by SEC regulations, the Company filed a NT 10-Q on November 14, 2013 granting us an extension of 5 calendar days to file our 10-Q for the third quarter. The Company has been moving quickly on the third quarter financials to release them as close to the November 19 th deadline as quickly as possible. The first round of edits has already been returned by the auditors and the Company is continuing to work on the financials as quickly as possible.
West Texas (C&C Petroleum Management, LLC):
The Company has made significant progress in many areas of West Texas. Operations continue to develop. For day by day updates, please visit the Company’s Facebook page at https://www.facebook.com/TreatyEnergyCorp .
Stockton #2
The Company is currently awaiting power to be hooked up to the Stockton #2. Current timelines show that the power will be connected sometime within the next two weeks based on scheduling. The well will temporarily be connected to the electrical grid with power provided by the land owner until the well is hooked up by the power company in the area.
Stockton #1
The Company is currently in the process of completing a work over on the Stockton #1 well in Texas. The goal is to perforate the well into the garner limestone region and then acidize and frack the area to produce the well and extend the life span of the well by another 20 years. This operation should bring current production outputs on the Stockton #1 to the same levels as other wells that were perforated exclusively in this zone (not including the gray sand).
Kubacak #1, #2 and #3/Stockton #3
The Company is still working with its drilling partner to solidify a drilling schedule. The rig is still on-top of the Stockton #3 well undergoing some operational maintenance. Once the rig is moved off the site, we will begin the completion operation on the Stockton #3 and the rig will move to the Kubacak #3.
The Company’s internal timeline still shows that it expects to have three more wells drilled by the end of the year (as part of the Company’s commitment to drill 5 new wells by the end of the year). As a point of clarification this timeline is to drill, not drill and complete. The Company fully expects to follow the drilling projects with completion, but completion on the wells may extend into 2014.
P.H. Barnes Lease and TRRC Resolution
The Company is currently working on the logistics of filling the P.H. Barnes lease. We have tentative approval from the TRRC to plug the P.H. Barnes #1, but will submit a final plan of operation (which we will make public) once the logistics of the operation are resolved and the TRRC grants us final approval.
As previously stated, once we complete the plugging of the P.H. Barnes, we will also create a section on our website regarding TRRC compliance issues on our wells that may arise.
McComas Lease and TRRC Resolution
Recently, the Company has begun to receive calls and messages regarding the McComas –A- lease. Rest assured, the Company will resolve the issue overtime, and have acknowledged a hearing letter on the matter; however the issue is fairly complicated and several of the issues cannot be resolved due to contradictory regulations.
Due to the problematic nature of this lease and the issues surrounding it, we are consulting with legal counsel on the matter and cannot make any further comment on the issue until it is resolved with the TRRC, the lease holders and land owners.
Belize (Treaty Belize Energy, Ltd):
San Juan #3
On Wednesday of last week, the Company attempted to remove the packer using the manufactured tool in Texas. The tool failed to connect at all, which was an unexpected and completely abnormal result. As a result, the Company is looking into acquiring/renting a deep bore hole camera to view the bottom of the well.
The Company understands the frustrations of shareholders with regards to its Belize operations. However, as progress continues to be made in Texas, operations are quickly shifting to focus more heavily on those operations. As a result, some operations may see less progress. This does not mean that these operations are being abandoned; however it does mean that operational updates may become less frequent and that profitable operations may take priority over currently non-profitable operations.
Corporate Filings (Treaty Energy Corporation):
As required by SEC regulations, the Company filed a NT 10-Q on November 14, 2013 granting us an extension of 5 calendar days to file our 10-Q for the third quarter. The Company has been moving quickly on the third quarter financials to release them as close to the November 19 th deadline as quickly as possible. The first round of edits has already been returned by the auditors and the Company is continuing to work on the financials as quickly as possible.
West Texas (C&C Petroleum Management, LLC):
The Company has made significant progress in many areas of West Texas. Operations continue to develop. For day by day updates, please visit the Company’s Facebook page at https://www.facebook.com/TreatyEnergyCorp .
Stockton #2
The Company is currently awaiting power to be hooked up to the Stockton #2. Current timelines show that the power will be connected sometime within the next two weeks based on scheduling. The well will temporarily be connected to the electrical grid with power provided by the land owner until the well is hooked up by the power company in the area.
Stockton #1
The Company is currently in the process of completing a work over on the Stockton #1 well in Texas. The goal is to perforate the well into the garner limestone region and then acidize and frack the area to produce the well and extend the life span of the well by another 20 years. This operation should bring current production outputs on the Stockton #1 to the same levels as other wells that were perforated exclusively in this zone (not including the gray sand).
Kubacak #1, #2 and #3/Stockton #3
The Company is still working with its drilling partner to solidify a drilling schedule. The rig is still on-top of the Stockton #3 well undergoing some operational maintenance. Once the rig is moved off the site, we will begin the completion operation on the Stockton #3 and the rig will move to the Kubacak #3.
The Company’s internal timeline still shows that it expects to have three more wells drilled by the end of the year (as part of the Company’s commitment to drill 5 new wells by the end of the year). As a point of clarification this timeline is to drill, not drill and complete. The Company fully expects to follow the drilling projects with completion, but completion on the wells may extend into 2014.
P.H. Barnes Lease and TRRC Resolution
The Company is currently working on the logistics of filling the P.H. Barnes lease. We have tentative approval from the TRRC to plug the P.H. Barnes #1, but will submit a final plan of operation (which we will make public) once the logistics of the operation are resolved and the TRRC grants us final approval.
As previously stated, once we complete the plugging of the P.H. Barnes, we will also create a section on our website regarding TRRC compliance issues on our wells that may arise.
McComas Lease and TRRC Resolution
Recently, the Company has begun to receive calls and messages regarding the McComas –A- lease. Rest assured, the Company will resolve the issue overtime, and have acknowledged a hearing letter on the matter; however the issue is fairly complicated and several of the issues cannot be resolved due to contradictory regulations.
Due to the problematic nature of this lease and the issues surrounding it, we are consulting with legal counsel on the matter and cannot make any further comment on the issue until it is resolved with the TRRC, the lease holders and land owners.
Belize (Treaty Belize Energy, Ltd):
San Juan #3
On Wednesday of last week, the Company attempted to remove the packer using the manufactured tool in Texas. The tool failed to connect at all, which was an unexpected and completely abnormal result. As a result, the Company is looking into acquiring/renting a deep bore hole camera to view the bottom of the well.
The Company understands the frustrations of shareholders with regards to its Belize operations. However, as progress continues to be made in Texas, operations are quickly shifting to focus more heavily on those operations. As a result, some operations may see less progress. This does not mean that these operations are being abandoned; however it does mean that operational updates may become less frequent and that profitable operations may take priority over currently non-profitable operations.
Contact
Treaty Energy Corporation
Investor Relations
investors@treatyenergy.com
Tel: 504-301-4475
Fax: 504-324-0844
Company Links
Website: http://www.treatyenergy.com
Facebook: https://www.facebook.com/TreatyEnergyCorp
Twitter: https://twitter.com/TreatyEnergyCo
About Treaty Energy Corporation
Treaty, an international energy company, is engaged in the acquisition, development and production of oil and natural gas. Treaty acquires and develops oil and gas leases which have “proven but undeveloped reserves” at the time of acquisition. These properties are not strategic to large exploration-oriented oil and gas companies. This strategy allows Treaty to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration.
Treaty Energy Corporation (TECO) trades on the OTCQB, the marketplace for companies that are current in their SEC reporting requirements. Investors can find Real-Time quotes and market information for Treaty Energy at http://www.otcmarkets.com/stock/TECO/quote
Forward-Looking Statements
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing; responding to competition and rapidly changing technology; and other risks. These risks are detailed in the Company’s filings with the Securities and Exchange Commission, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward-looking statements.
Treaty Energy Corporation
Investor Relations
investors@treatyenergy.com
Tel: 504-301-4475
Fax: 504-324-0844
Company Links
Website: http://www.treatyenergy.com
Facebook: https://www.facebook.com/TreatyEnergyCorp
Twitter: https://twitter.com/TreatyEnergyCo
About Treaty Energy Corporation
Treaty, an international energy company, is engaged in the acquisition, development and production of oil and natural gas. Treaty acquires and develops oil and gas leases which have “proven but undeveloped reserves” at the time of acquisition. These properties are not strategic to large exploration-oriented oil and gas companies. This strategy allows Treaty to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration.
Treaty Energy Corporation (TECO) trades on the OTCQB, the marketplace for companies that are current in their SEC reporting requirements. Investors can find Real-Time quotes and market information for Treaty Energy at http://www.otcmarkets.com/stock/TECO/quote
Forward-Looking Statements
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing; responding to competition and rapidly changing technology; and other risks. These risks are detailed in the Company’s filings with the Securities and Exchange Commission, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward-looking statements.
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