TECO Official Belize Status Update for April 24, 2013.
Treaty Energy Corporation updates investors on Belize operations regarding the status of drilling on San Juan #3.
Due to the current injunction placed on off-shore concession holders, and by extension Treaty Energy Corporation, drilling on San Juan #3 has been suspended. The injunction was placed on the Government of Belize shortly after the ruling on the Oceana case was made public.
On April 19, 2013, representatives from Treaty Energy Corporation and Princess Petroleum met with Princess Petroleum’s legal counsel, Mr. Rodwell Williams, to discuss the Oceana case and the potential impacts that the ruling may cause. During this meeting, Treaty Energy Corporation was advised of their legal rights and furthered the discussion with other government representatives.
Max Mohammed, Treaty Energy Corporation’s Chief Operations Manager for Treaty Belize Energy, Ltd., returned to the United States. Mr. Mohammed is a valuable asset to Treaty Energy Corporation and was long overdue for a return visit to the United States to meet with friends and family and was planned to coincide with the drill’s suspension. Mr. Mohammed will be returning to Belize the week of April 29, 2013 and will continue to oversee all Treaty Operations in Belize.
Treaty Energy Corporation is still awaiting guidance from the Government of Belize regarding their future course of action on how Treaty Energy Corporation will proceed with drilling on San Juan #3. Treaty Energy Corporation’s shareholders can be assured that the Company will keep them updated on the complicated on-going matters in Belize.
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