Drilling Begins on

New Post Public Reply Private Reply Replies (0) Message Board

Newer Older

NYR2 tufunuf #20389

Sep 30, 2013 at 7:59 AM

Drilling Begins on the Stockton #2 and #3 in Tuscola, Texas

View this email in your browser

Treaty Energy Corporation Commences Drilling Operations on the Stockton Lease in Tuscola, Texas

Drilling Has Begun on the Stockton #2 and #3 Wells; Drilling on the Stockton #2 Well Currently at 2,000ft.

NEW ORLEANS, LA – September 30, 2013 -- Treaty Energy Corporation (OTCQB: TECO) ( http://www.treatyenergy.com ), a growth-oriented international energy company, today announced that the Company has commenced full drilling operations on the Stockton Lease in Tuscola, Texas.

On September 27, 2013, at around 6:10pm CDT , the drilling rig spudded in on the Stockton #2 well. The Company is employing a local drilling contractor to perform the operation. The Stockton #2 well will be drilled to the Gardner Limestone pay-zone located at an approximate depth of 4800ft. The well is considered an off-set well to the Company’s successful Mitchell #4 well.

Currently, the Stockton #2 drill is at approximately 2000ft. and is drilling 24 hours a day. Due to proximity and same field geology, initial production numbers and estimated production rates are expected to be similar to the Mitchell #4 well, which received an initial production rate of 61 barrels of oil per day (BOPD) and an announced production rate of 45-50 BOPD.

After completion of the Stockton #2 well, the drilling rig will immediately move over to the Stockton #3 site to begin drilling operations there. The target pay-zone for the Stockton #3 is also the Gardner Limestone and is expected to have a total depth of 4800ft.

Drilling on the Stockton lease comes at an opportune time with the price of WTI Crude nearing all-time highs at over $100.00 a barrel. Initial production surges will guarantee larger profits for the Company due to this unexpected market development.
The Stockton lease project was entirely self-funded and the Company sought no additional partners on the project. As a result, the Company maintains its full 75% net revenue interest ( NRI ) and a 100% working interest (W/I) on the well.

The Stockton lease project is part of the Company’s business strategy to develop an oil field in Tuscola, Texas. To date, the Company has drilled two new wells and worked over one existing well and is solidifying plans to work over and re-perforate the Stockton #1 well into the Gardner Limestone pay-zone to match the newly drilled Mitchell and Stockton wells.

Andrew Reid, Chief Executive Officer of Treaty Energy, stated, “The Company is thrilled to begin drilling on the Stockton lease after three months of planning and development. By opting to self-fund this well, the Company is expected to dramatically increase revenues in a very short period of time especially with oil at a high price. If the drilling is successful, the Company may choose to further develop and drill in the Tuscola area.”

Bruce Gwyn, Chief Operating Officer of Treaty Energy, stated, “The Company is making tremendous progress in increasing oil and gas production. Management earlier this year stated that the primary goal of the Company was to revamp Texas operations and increase production. Revenue from production is at an all-time high in Company history and is only going to get higher. The Company has begun the permitting process to drill two additional wells in the area and will continue to support the Tuscola drilling program, so long as the Company continues to receive positive results in the area.”

Shareholders can continue to monitor the Stockton project as it develops through the Company’s social media channels, newsletter or website.

History of the Stockton Lease Project
On June 28, 2013, Treaty Energy acquired a working interest on the Stockton lease from U.S. Fuels, Inc. of Breckenridge, Texas. This working interest included a 75% net revenue interest ( NRI ) and a 100% working interest (W/I). The remaining 25% NRI is dedicated to existing overriding royalty interests (ORRI).

On July 17, 2013, the Company announced it had completed survey work and was solidifying plans to drill two offset wells from the Mitchell lease on the Stockton lease. Requests for drilling permits were filed approximately two weeks after survey work was completed. The Company received permitted approval to drill the two wells on August 6, 2013 from the Texas Railroad Commission (TRRC).

The Company finalized and signed contracts on September 11, 2013 to begin drilling the two planned wells on the Stockton lease. As previously announced, the Company has sought no partners on the project and will be completely self-funded. The Company’s self-funding grants 100% of the 75% NRI as revenue for the Company.

Contact
Treaty Energy Corporation
Investor Relations
investors@treatyenergy.com
Tel: 504-754-6926
Fax: 504-324-0844

Company Links
Website: http://www.treatyenergy.com
Facebook: https://www.facebook.com/TreatyEnergyCorp
Twitter: https://twitter.com/TreatyEnergyCo

About Treaty Energy Corporation
Treaty, an international energy company, is engaged in the acquisition, development and production of oil and natural gas. Treaty acquires and develops oil and gas leases which have “proven but undeveloped reserves” at the time of acquisition. These properties are not strategic to large exploration-oriented oil and gas companies. This strategy allows Treaty to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration.

Treaty Energy Corporation (TECO) trades on the OTCQB, the marketplace for companies that are current in their SEC reporting requirements. Investors can find Real-Time quotes and market information for Treaty Energy at http://www.otcmarkets.com/stock/TECO/quote

Forward-Looking Statements
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing; responding to competition and rapidly changing technology; and other risks. These risks are detailed in the Company’s filings with the Securities and Exchange Commission, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward-looking statements.

Treaty Energy Corporation (TECO) Stock Research Links

TECO Board Company Profile Buy Rating Time & Sales News Filings Financials

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Merit Expands in New York with Bold Acquisition Move

Merit Financial's Growth Trajectory Takes a Leap You watch the movers and shakers in this game long enough, and you start to see patterns. Merit Financial Advisors is one of those juggernauts you'd better keep an eye on. These folks just scooped up Moldenhauer & Associates—a firm that's been a staple in Orchard Park, New York—for a cool $1.1 billion worth of client...

Wally Disrupts Dental Industry with $25M Funding

A New Breath of Fresh Air for Dental Care Dental visits—a tedious, costly affair we've all dreaded. So, when Wally rolls out an overhaul in this stale landscape, it's worth taking notice. With $25 million in their pockets from Series A funding led by Maveron, Wally's swaggering in with a plan to flip the script on dental care across the nation. Redefining the Dental...

Vitamin Angels Drives Global Nutrition Advancements

Navigating the Waters of Global Nutrition Bet you never thought a vitamin program could spearhead the front lines of healthcare, huh? Vitamin Angels are grinding away under the radar, shifting the landscape for maternal and child nutrition. At the heart of it all is their vision to make UNIMMAP multiple micronutrient supplementation (MMS) a staple in the global playbook....

EMCO's New Automated Facility Could Shake Industry

A Novel Leap in Production Capacity EMCO Industries just put a solid foot on the accelerator with their brand-new, shiny, fully automated plant over in Claremore, Oklahoma. If you're glancing at heavy-duty trailer springs, you can't ignore the fact that this is a multimillion-dollar investment. Heck, this monstrous 30,000-square-foot facility more than doubles what EMCO...

HelloNation Brings 'Edvertising' to NC REALTORS® Event

HelloNation's Bold Step into Real Estate Networking October 8th to the 11th is shaping up to be a pivotal few days in Wilmington, North Carolina. Here’s the scoop: HelloNation, known for its innovative 'edvertising' model, is joining the bustling crowd at the 2026 NC REALTORS® Convention. This isn’t just any get-together—it's the grandest annual jamboree for real...

Decoding CarBravo-Certified vs Traditional Used Cars

What’s Behind Door Number One: CarBravo Certification When you walk onto a car lot these days, it's a mixed bag: shiny badges boasting certifications or basic used car signage. For anyone who's spent time around cars, two types stick out—there’s your CarBravo-certified vehicles and your good ol' used cars. Now, Marissa McCoy and Jill Maniaci from Heidebreicht...

OCI N.V. Secures a Win in Court; EGM Proceeds as Planned

OCI Dodges a Bullet in Amsterdam Court Stepping into the courtroom drama, OCI N.V. just took home a win as the Amsterdam Court of Appeal's Enterprise Chamber gave them a clean bill of health, kicking out the inquiry request from VEB and a bunch of other shareholders. The judges weren't convinced there was anything fishy going on, so they tossed the inquiry petition and...

Ornellaia's 2026 Harvest: Adapting to Nature's Whims

A Year Marked by Weather's Unpredictable Dance Nobody said making wine was a walk in the park, and the folks at Ornellaia know better than most how to roll with whatever nature throws their way. The 2026 harvest story is as much about unlocking the secrets of the soil as it is about navigating the quirks of the weather. Situated in Bolgheri, Italy, this year's vintage...

C3EL Expands Federal Footprint with Strategic Contracts

Pushing Boundaries in Federal Contracts What a ride C3EL's had in Government Fiscal Year 2026! Let me tell you, they’ve bagged a bunch of contracts that’d make any company’s mouth water. Kicking things off, they snagged a prime cybersecurity contract from the U.S. Air Force. Considering our current cybersecurity landscape, that's like striking gold. But they...

Duke Energy's Cost-Protection Plan Shields Ratepayers

Shielding Customers From Data Center Costs Let's get right into the thick of it: Duke Energy's latest move is a strategic one, shrouded in industry terms but with a real impact on regular folks' wallets. The company's agreement with heavyweights like Amazon, Google, and Meta aims to protect existing customers in North Carolina from getting hit with the costs of powering...