Possibly some answers.  The Mitchell #3 and #4 to

Possibly some answers.  The Mitchell #3 and #4 together are producing in the neighborhood of 80 BOPD.  In the case of these two wells, Treaty is receiving about 28% of revenue.  This does not mean that Treaty will have to produce over 300 BOPD to gain positive cashflow.  However, as with any business that has overhead, additional expenses from time to time, ie, quarterly and annual accounting, and legal, it would be OK to consider that 320 or so BOPD should get them to that point.  But here is some caution.   Even with a position of positive cashflow, they still need additional capital to drill new wells, and even to rework older wells.  Currently the company has additional acreage (over 1800 acres in total) that has been acquired in the area of the Mitchell wells.  It is anticipated that they will be able to begin a drilling campaign in the near future so that as those wells hit and come into production, additional revenues will be gained and general overhead will be covered.  NOW, do not forget Belize.  Additional equipment and supplies for the completion of the San Juan #3 are being shipped and will hopefully arrive there by Monday next week.  Keep in mind it can take a day or two, or sometimes even three for the truck to clear customs.  All in all, it is probable that by the end of next week, that equipment and supplies should be in the field.  What this means is that it is possible that we could know something regarding Belize by the end of the first week of July.  Possible, but don't bet the bank on that timeline as it can easily get extended as we have all come to understand from past experience with Treaty and the GOB.  However, the odds are slight, and then the odds go up higher in our favor the second week of July.  So, here's the picture as I see it.  If we haven't heard anything out of Belize by July 4, I'd still save a few brewskies for when we do hear, and of course keep those babies iced down.  And if we hit in Belize, I want to hear this board's cheers.  Now, Get Ready!