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  4. Treaty Energy Corporation (TECO) Message Board

Thank you DTL.  I also apologize for some of the

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Post# of 39368
Posted On: 02/13/2013 11:17:12 AM
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Posted By: Oilfield Trash
Re: DTL #6221

Thank you DTL.  I also apologize for some of the things I do and really there is nothing anyone on here can do to help but I feel like here is where we should vent.  We all have different opinions about why we are where we are but the bottom line is that the vast majoriity of us have lost a great deal of money and none of us are willing to sell at an 80% lose.  We can say that the MM's are controling our PPS and you are probably right to a degree but as an oilfield company we made 75 - 100 grand last quarter.  We are spending $55,555 a day.  Last quarter covered almost 3 days of operations.  We are issuing stock like its nobodies business and our production hasn't moved up yet.  We can be opptimistic about things but we better have some fire in our eyes if they keep playing with our money.  Even if production comes up to 200 BOPD, at the most we are going to sell this for 17,000 a day.  We still can't sustain them spending 55,555 a day.  We will need to get to 654 BOPD to break even.


Just to clarify my figures we spent 5 million in general/administrative fees in the third quarter and that divided by 90 is 55,555.  The third quarter of 11 we spent 4 million so this is a steady bill.  That is a lot of money for a small operation.  We have what 30 employees and one office.  Thats craziness.  Thats not even for revenue generating expenses.



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