TECO Project Status Update for 3/15/2013: San Juan #3
Treaty Energy Corporation has commenced full drilling operations at San Juan #3 in Belize.
Treaty Energy Corporation (TECO) has begun full drilling operations at the San Juan #3 location in Belize. The San Juan #3 well was officially spudded in at 3:30pm on March 14, 2013. At 6:30pm, the drill was at approximately 100ft in depth.
On March 12, 2013, the drill broke ground and initially drilled to an approximate depth of 15ft to install the conductor pipe. This process is utilized to ensure a stable structural foundation for the well.
Government representatives from the Geology Department in Belize were on hand to witness the drill spudding in and to give final approval of the drilling plans. The recently serviced drilling rig is running optimally and appears to be handling drilling operations well.
TECO is expected to be at 500ft by late Saturday evening in which the surface casing will be installed. By late next week (March 21-22, 2013), TECO will reach the first expected payzone at approximately 800ft. At that time, TECO will update investors on the rig's operations.
TECO received video footage this morning of the rig in operation:
TECO is incredibly excited about this project and looks forward to updating investors on the well’s operations through existing communication channels.
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