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  4. Treaty Energy Corporation (TECO) Message Board

Oilfield, I posted on IHUB that the GOB is trying

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Post# of 39368
Posted On: 10/04/2012 3:11:08 PM
Posted By: blindinvestor
Re: Oilfield Trash #1192

Oilfield, I posted on IHUB that the GOB is trying to renegotitate their loan situation with Washington.  They left Washington Tuesday without a resolution.  Until they get a reduced loan amount and probably at least some forgiveness on the interest due, they do not want Treaty to PR anything that might offer Washington some insight into the fact that they could become a better off with the taxes imposed on Treaty's potential production.  It has slowed the process in Belize for Treaty to a snail's pace.  Hopefully the GOB will make another attempt soon and get this situation resolved as Treaty as a public company has SEC requirements that force them to make an announcement of material effect.  In that regard, Belize could come alive next week, or probably at the latest the following week.  As for $1, I have no clue on that issue.  I still think that with success of two wells in Belize offering production of 100bbls or more per day, and with success in east Texas of horizontal drilling the Madaley out 800' and renewed production attaining something more than 200 bbls per day, then the Treaty pps could reach .25 by yearend.



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