Treaty Energy Corporation Prepares to Drill 21 Wells in West Texas
Treaty Energy has Arranged with TNC Energy, LLC of Woodward, Oklahoma, to Drill 21 Wells to Include a 9- Deep Well Project and a 12-Shallow Well Project
NEW ORLEANS, Dec. 18, 2012 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) (www.treatyenergy.com), a growth-oriented international energy company, is pleased to announce a new drilling arrangement with TNC Energy, LLC, of Woodward, Oklahoma, for a 21 Well Drilling program in West Texas.
Treaty Energy Corporation had previously announced the funding of both a 9-Deep Well project, and a 12-Shallow Well project. TNC Energy, LLC has been nominated to handle both projects from start to completion, including all ancillary services, which will allow Treaty to complete the project in the most efficient cost effective manner.
TNC Energy, LLC is a newly formed drilling company managed by the Weder Family, who's Edge Services, Edge Wireline, and Pistol Drilling business units have been providing oil field services since 1984. TNC, through its affiliated companies owns and operates a large 10 rig fleet service drilling company, and wireline services company, boasting highly skilled and vastly experienced personnel with a wealth of knowledge, spanning many years in the oil drilling industry, to draw from.
TNC, through related companies, has provided drilling services to an ever-expanding list of satisfied customers. TNC's premier client list comprises some of the major names in the oil and gas industry, including: BP America, Inc., Marathon Oil Company, XTO Energy, Chesapeake Operating, Inc., Sandridge Energy, Inc, EOG Resources, Inc., Whiting Oil and Gas Corporation, Apache Corporation, and Linn Energy. TNC combines the highest quality state-of-the-art drilling equipment with the most experienced and proven drillers, technicians, well-hands and supervisors.
Co-CEO of Treaty Energy, Bruce Gwyn, stated, "Now that TNC Energy has been engaged for the drilling of these West Texas projects, Treaty shareholders will start to see immediate results from this new strategy. We have a 21 well program that has been pre-funded and now we also have a contract with a professional and experienced drilling company to drill all of these wells through to completion."
Mr. Gwyn added, "With the expertise of TNC Energy, our production will start to rise quickly, which brings revenue directly to the bottom line. Once these 21 wells are drilled by TNC Energy, we should see production levels around 400 barrels/oil per day, and this should be completed by the end of the 1st quarter of 2013."
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
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
SOURCE Treaty Energy Corporation
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