This morning from Treaty's Facebook: Treaty Ene
Post# of 39368
Posted On: 07/16/2014 12:06:39 PM
This morning from Treaty's Facebook:
Treaty Energy Corporation received word that the Damon Mound seismic survey of almost five miles in total length is now complete.
Finally the data is ready for processing. This processing should only take about a week to ten days and is being performed by geophysicist Bill Gaskin in Houston.
The task of completing this seismic survey was complicated by incessant rains, practically every other day. As many investors know, surface leases normally have "no wet work" clauses. And the Aquinas leases all had that clause. In normal weather times, the project would have taken about two weeks to complete the survey and two weeks to process. Plus the seismic crew encountered leases that had farmers with crops of maize while others had herds of cattle. All presented problematic situations for completing the project on a timely basis. With the delays it extended to almost eight weeks. Certainly we are sorry for this delay to our investors and we thank you for your patience.
Today, due to the delays incurred for the seismic survey, Treaty requested and received an extension for their timeline in initiating the drilling on our Four Well Farmout. Chris Tesarski, Exec Chairman of Treaty will now schedule a meeting with Bill Gaskin and make a final determination for the first well site in the program. In addition, he will have an opportunity to see and review other important data that may be available. August 15 is now the timeline to have selected the first well site, complete the well site survey, check title and file for a permit with the TRRC. From that time, Treaty will have until October 15 to begin drilling. This timeline should allow the five to six weeks for TRRC to issue a permit and for the well site to be developed and rigging set for drilling.
Now it's time to get down to business.
Treaty Energy Corporation received word that the Damon Mound seismic survey of almost five miles in total length is now complete.
Finally the data is ready for processing. This processing should only take about a week to ten days and is being performed by geophysicist Bill Gaskin in Houston.
The task of completing this seismic survey was complicated by incessant rains, practically every other day. As many investors know, surface leases normally have "no wet work" clauses. And the Aquinas leases all had that clause. In normal weather times, the project would have taken about two weeks to complete the survey and two weeks to process. Plus the seismic crew encountered leases that had farmers with crops of maize while others had herds of cattle. All presented problematic situations for completing the project on a timely basis. With the delays it extended to almost eight weeks. Certainly we are sorry for this delay to our investors and we thank you for your patience.
Today, due to the delays incurred for the seismic survey, Treaty requested and received an extension for their timeline in initiating the drilling on our Four Well Farmout. Chris Tesarski, Exec Chairman of Treaty will now schedule a meeting with Bill Gaskin and make a final determination for the first well site in the program. In addition, he will have an opportunity to see and review other important data that may be available. August 15 is now the timeline to have selected the first well site, complete the well site survey, check title and file for a permit with the TRRC. From that time, Treaty will have until October 15 to begin drilling. This timeline should allow the five to six weeks for TRRC to issue a permit and for the well site to be developed and rigging set for drilling.
Now it's time to get down to business.
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