Someone said we need financing and CT said we get some on
Someone said we need financing and CT said we get some on Nov 17th. Here are some highlights.
With respect to the announced transaction in Colorado:
· TREATY is intending to close on this transaction by DECEMBER 15, 2014. The metrics for the transaction have substantially changed;
· The average daily production of the wells in the acquisition package is approximately 200 BOEPD;
· Net revenues are expected to be approximately $150-200,000 per month depending on the commodity pricing over the next 60 days, while new wells are being brought on stream. We remain confident we will reach the high end of projected revenue early in Q1-2015 and grow from there as 2015 drilling continues;
· The effective date at closing has been negotiated to June 1, 2014, and thus TREATY will receive the benefit of 5 months of cashflow that will be deducted form the purchase price of $5.78MM;
· In addition TREATY has entered into a Letter of Intent (LOI) with a separate but affiliated vendor to acquire a “royalty package” available to the company in this area which will significantly bolster the company’s position in this exciting Colorado energy play;
· This is all part of a significant and aggressive financing campaign which has been able to attract to bring debt and equity into TREATY that will allow us to move beyond the hostilities which have been leveled against the company as highlighted earlier;
· TREATY has secured its first part of the financing which will come into the company on or beforeNovember 17, 2014
· As part of its commitment to its financing consortium to decisively alter the company’s business activities TREATY is pleased to present to its shareholders the following material information as to the direction of the company in the coming months.
Treaty Energy Corporation (TECO) Stock Research Links
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