TECO - Shareholder UPDATE: December 2, 2014
The last several weeks have been tumultuous to say the least. Geopolitical forces have once again proven to be a force that even the most seasoned energy and political analysts could not have necessarily predicted, but here we are again as an industry, looking at factors that for many of us are absolutely beyond our control and asking “where do we go from here?”
Management and the Board have been asking many of these same questions as we have watched as our financing consortium has wavered during these uncertain times and our transactions waver due to that same uncertainty. Sometimes factors do not always align themselves the way we had planned. For TREATY though our financing efforts can now continue in earnest as we have been able to get back to the negotiating table with the vendors whom we have pending transactions with and work at restructuring a more workable and “market reflective” transaction that will be mutually beneficial to all parties involved.
The days ahead are still uncertain, however, if we can see some stability begin to be reflected back in the oil markets again we should be able to close on transactions prior to year end. With that in mind we have extended closing dates to “DECEMBER 31st or such time as shall mutually be acceptable to both parties” subject to market due diligence and pending partner program budgetary approvals which SHOULD be completed by mid December. The budgetary process of companies much larger than TREATY is a huge part of the financing and acquisition process in light of a somewhat “minor interest” in a MAJOR US oil play controlled by those same companies.
In the meantime we remain committed to immediate budgetary needs for TREATY and will see an “adequate financing” to handle the completion of the 2013 audit and bring immediate production on-stream by the end of 2014 completed in the short term. Timelines and targets have shifted. We appreciate this has led to frustration amongst many of our shareholders. The concept that perhaps it’s “business as usual” at TREATY could not be further from the truth. In addition, so we clear up any misconceptions about my compensation for “running TREATY”. It is basically a 24 hour a day job. I was offered a salary by former management; it has not been paid. Our operating company holds a Preferred Stock Certificate that is convertible to 250 Million Shares at $0.01 per share, and if I’m able to bring on an additional 100 BOPD of production by the end of 2014 that turns into 500 Million Shares. It is time we make it very clear that what has been my motivation to seeing TREATY succeed, is in fact the same as yours as shareholders: production, cash flow and corporate credibility. Without it I cannot expect compensation from TREATY.
In keeping with bringing STABILITY back to the company, some of you may already be aware that we are in the process of moving from our “French Quarter” office to partner with the A CORPORATE BUSINESS CENTRE at 201 St. Charles Place in New Orleans to bring costs under control and bring us an exciting new corporate presence that will be part of the “2,015 in 2015 PLAN” we intend to roll out for our shareholders early in 2015. Again so that we can clarify any misconceptions surrounding the “2,015 in 2015 PLAN”, it was to be released as the 2,016 in 2016 PLAN referring to the fact that we would go into 2016 at 2,016 BOPD of production. Despite feeling sometimes like forces far beyond our control can conspire against us we will continue to remain committed to this plan. It is the right one for us as a company and is what we need to restore TECO back to market capability and drive it forward toward a much brighter future. Once our transitional move is complete within the week we will update all necessary channels to ensure all are aware of our new office and contact information. In the meantime we would ask you to contact us at investors@treatyenergy.com and we will endeavor to get back to you within 24-48 hours.
We will continue to update our shareholders on all developments as they arise. We value the continued support of our shareholders and continue to remain stalwart in our efforts to ensure you are given a company you can be proud of as we head into 2015 and what should be a far brighter year ahead for the company despite the many obstacles we still have to face as we move forward.
We seek safe harbor.
Chris D. Tesarski
EXECUTIVE CHAIRMAN & CEO
TREATY ENERGY CORPORATION
~~~~~~~~~~~~~~~~~~~~~~~~~~
Contact:
TREATY Energy Corporation
Investor Relations
investors@treatyenergy.com
Tel: 504-301-4475
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 allows TREATY to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration.
TREATY Energy Corporation (TECO) trades on the OTC. Investors can find Real-Time quotes and market information for TREATY at:
http://www.otcmarkets.com/stock/TECO/quote
Forward-Looking Statements
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing; responding to competition and rapidly changing technology; and other risks. These risks are detailed in the Company's filings with the Securities and Exchange Commission, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward-looking statements.
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The last several weeks have been tumultuous to say the least. Geopolitical forces have once again proven to be a force that even the most seasoned energy and political analysts could not have necessarily predicted, but here we are again as an industry, looking at factors that for many of us are absolutely beyond our control and asking “where do we go from here?”
Management and the Board have been asking many of these same questions as we have watched as our financing consortium has wavered during these uncertain times and our transactions waver due to that same uncertainty. Sometimes factors do not always align themselves the way we had planned. For TREATY though our financing efforts can now continue in earnest as we have been able to get back to the negotiating table with the vendors whom we have pending transactions with and work at restructuring a more workable and “market reflective” transaction that will be mutually beneficial to all parties involved.
The days ahead are still uncertain, however, if we can see some stability begin to be reflected back in the oil markets again we should be able to close on transactions prior to year end. With that in mind we have extended closing dates to “DECEMBER 31st or such time as shall mutually be acceptable to both parties” subject to market due diligence and pending partner program budgetary approvals which SHOULD be completed by mid December. The budgetary process of companies much larger than TREATY is a huge part of the financing and acquisition process in light of a somewhat “minor interest” in a MAJOR US oil play controlled by those same companies.
In the meantime we remain committed to immediate budgetary needs for TREATY and will see an “adequate financing” to handle the completion of the 2013 audit and bring immediate production on-stream by the end of 2014 completed in the short term. Timelines and targets have shifted. We appreciate this has led to frustration amongst many of our shareholders. The concept that perhaps it’s “business as usual” at TREATY could not be further from the truth. In addition, so we clear up any misconceptions about my compensation for “running TREATY”. It is basically a 24 hour a day job. I was offered a salary by former management; it has not been paid. Our operating company holds a Preferred Stock Certificate that is convertible to 250 Million Shares at $0.01 per share, and if I’m able to bring on an additional 100 BOPD of production by the end of 2014 that turns into 500 Million Shares. It is time we make it very clear that what has been my motivation to seeing TREATY succeed, is in fact the same as yours as shareholders: production, cash flow and corporate credibility. Without it I cannot expect compensation from TREATY.
In keeping with bringing STABILITY back to the company, some of you may already be aware that we are in the process of moving from our “French Quarter” office to partner with the A CORPORATE BUSINESS CENTRE at 201 St. Charles Place in New Orleans to bring costs under control and bring us an exciting new corporate presence that will be part of the “2,015 in 2015 PLAN” we intend to roll out for our shareholders early in 2015. Again so that we can clarify any misconceptions surrounding the “2,015 in 2015 PLAN”, it was to be released as the 2,016 in 2016 PLAN referring to the fact that we would go into 2016 at 2,016 BOPD of production. Despite feeling sometimes like forces far beyond our control can conspire against us we will continue to remain committed to this plan. It is the right one for us as a company and is what we need to restore TECO back to market capability and drive it forward toward a much brighter future. Once our transitional move is complete within the week we will update all necessary channels to ensure all are aware of our new office and contact information. In the meantime we would ask you to contact us at investors@treatyenergy.com and we will endeavor to get back to you within 24-48 hours.
We will continue to update our shareholders on all developments as they arise. We value the continued support of our shareholders and continue to remain stalwart in our efforts to ensure you are given a company you can be proud of as we head into 2015 and what should be a far brighter year ahead for the company despite the many obstacles we still have to face as we move forward.
We seek safe harbor.
Chris D. Tesarski
EXECUTIVE CHAIRMAN & CEO
TREATY ENERGY CORPORATION
~~~~~~~~~~~~~~~~~~~~~~~~~~
Contact:
TREATY Energy Corporation
Investor Relations
investors@treatyenergy.com
Tel: 504-301-4475
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 allows TREATY to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration.
TREATY Energy Corporation (TECO) trades on the OTC. Investors can find Real-Time quotes and market information for TREATY at:
http://www.otcmarkets.com/stock/TECO/quote
Forward-Looking Statements
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing; responding to competition and rapidly changing technology; and other risks. These risks are detailed in the Company's filings with the Securities and Exchange Commission, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward-looking statements.
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