Treaty Energy Corporation Newsletter for the Week of February 10, 2014
This newsletter is for the week of February 10, 2014 and contains current information on Company operations as of February 7, 2014. Information contained in this newsletter may be outdated at the time of release.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 .
Changes to Newsletters (Treaty Energy Corporation):
After careful consideration, the Company will be issuing newsletters every other week. In accordance with this policy change, the next newsletter will be published on February 24, 2014.
This change is based on numerous different metrics and opinions expressed by both shareholders and management alike:
- Several shareholders have expressed concern that the information contained in the newsletters change infrequently on a week by week basis devaluing the information contained within them.
- The number of newsletter subscription rates has dropped. While normally coordinated with market activity, numerous shareholders have begun to mark newsletters as ‘spam.’ Newsletter opening rates have also declined significantly indicating a frequency problem.
- Management believes that as operations have condensed, operational information has as well, making it harder to produce weekly information that changes week to week.
- This increases the reliability of information and improves transparency. Reducing the number of newsletter updates will ensure that information is more accurate as operational dates tend to shift on a daily basis, sometimes extending into the following week.
- This publication policy is consistent with other operations of comparable sizes.
- Treaty Energy is one of the only OTC listed stocks that publish weekly/biweekly reports on operations to benefit investors.
Treaty Energy Corporation is still committed to full transparency and is operating under full compliance of SEC regulations and is fully reporting regarding all of its activities. This publication policy comes as a result of several weeks of internal review and discussion.
Motion for Damages (Treaty Energy Corporation):
After filing the Motion for Damages in the matter of 2:13-BK-11238 on January 17, 2014, several investors have contacted the Company’s investor relations department informing them that some of the petitioners have begun to send harassing or threatening messages to them. The Company has also noticed an uptick in activity from several public accounts associated with the petitioners. If you have received harassing messages from someone associated with the involuntary petition filed against the Company, please forward those messages on to investors@treatyenergy.com so that we may forward them to our attorneys handling the matter.
On January 22, 2014 the court issued a Rule 16(b) Conference and Pre-Trial Conference Hearing for February 13, 2014. The purpose of this hearing is to determine what Treaty Energy Corporation will need to go to trial (typically referred to as discovery) and to set a trial date. In addition, David Hallin, one of the petitioners has motioned to enroll substitute counsel. The original attorney, Reginald J. Laurent, representing the petitioners has been replaced. This change in legal counsel may result in an increased discovery period.
Treaty Energy would like to move forward on this matter as quickly as possible. However, shareholders should be aware that this matter will not be resolved within thirty days and may take several months before a decision is made. This is not up to Treaty Energy Corporation or the Company’s attorney, but is the rate at which every court in the United States operates at. Treaty Energy Corporation will continue to update investors on every large development that occurs in this matter.
West Texas (C&C Petroleum Management, LLC):
Kubacak Lease
The Company continues to move forward in acquiring financing on the Kubacak Lease so that it may begin the project within the first quarter of 2014 as announced in the six month prospectus. The Company is making headway in achieving financing and is moving as quickly as possible to secure full financing on the project. Shareholders should be aware that despite urgency to move forward, discussions in this matter move at a certain speed. Treaty Energy is attempting to speed up the process as much as possible to ensure investor’s demands are met. We thank shareholders for their continued patience in this matter. 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
|
|
(0)
(0)