I found this letter on treatys web sight. It overestemated how much oil we would get and how fast it would come in. This why some people sold out. We have no met the expectation which we created. I think the only why to fix it is to keep improving production. Here is the letter it is way to positive to keep on the web sight look and production estimates and time frame. I think it should be taken off.
August 25, 2011
From: Steve York
To: Andy Reid
Re: Texas Acquisition
Andy,
On behalf of Treaty Energy, I have contracted for the purchase of 2 new leases;
the Mach H. Wooldridge and Eula E. Wooldridge located in Shackelford County,
Texas. The current owner is restoring the lease to full operational status and fixing
all mechanical problems as we speak. The production for the wells on both leases
should yield 4 barrels per day.
The real upside is that both leases combined total 280 acres. There is room for
many additional new wells to be drilled. For a lease this size, I have gathered
a significant amount of data and material that normally would not exist. I have
the original logs of the 5 wells that were originally drilled on these 2 leases. In
addition a family member who worked for XTO, pre Exxon purchase, had made a
Geological tract map of the available virgin acreage. The map identifies 12 infield
(well sites inside the perimeter of existing drilled wells) drilling sites or PUDS as
commonly called in the industry.
This represents a golden opportunity for Treaty Energy to increase our
production, and our reserves. These shallow wells are easy drilling and with the
advent of new gel fracking methods the production is increased and will last
longer than traditional style wells. Since these wells are 500-700’ deep, Treaty can
drill, complete, and operate in-house and forge ahead toward our company goals
of 1000 barrels per day in the next 10 months.
