jpn, the more I read the newsletter language, IMO
Post# of 39368
Posted On: 11/19/2013 3:28:56 PM
jpn, the more I read the newsletter language, IMO Belize will be funded less or zero and those operations will slow down or stop to finish W. Texas. Maybe W. Texas's success and revenue will help to fund Belize if indeed W. Texas is successful. I don't think TECO will abandon Belize but IMO it is costing them a small fortune to operate and for what ROI so far? IMO this is the kind of operation you run when you don't have better things to do with your money and not something a penny stock startup does while trying to drill and complete five wells in Texas that have such a high probability of revenue streams and cash flow. IMO the operators of Treaty Belize are out of their league and/or working on a shoestring budget. I only say that because they have drilled qty 3 wells and zero barrels have been produced but "supposedly" they have proof of oil. See bold highlight below.
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.
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.
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