Treaty Energy Corporation Producing Oil from its Lakeshore #1 Well in Shelby County, Texas Initial Production Rates from the Lakeshore #1 Well is 37 BOPD, and Combined with the Madeley Well, Production is at 229 BOPD of Oil and 822 MCF Per Day of Natural Gas in Shelby County
NEW ORLEANS, July 20, 2012 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) (www.treatyenergy.com), a rapidly growing international energy company, today announced initial production results for the newly re-worked Lakeshore #1 well in Shelby County, Texas.
Andrew V. Reid, Chairman of Treaty Energy Corporation, stated, "We reported in an earlier release that the Madeley F 1H well was certified at 192 BOPD and 822 MCF of natural gas per day. We also reported that the Madeley well pressure was very high when opened last Monday and we were going to hold off on drilling the lateral extension until we see a substantial drop in the well head pressure."
Mr. Reid added, "Because we had a drilling rig on site that was being billed on a per day charge we decided to rework the Lakeshore #1 well that is located about 1000 ft. away. Treaty now has the initial production numbers on that reworked well which is now producing 37 BOPD."
In conclusion, Mr. Reid stated, "I am extremely pleased with results so far from our Shelby County Texas leases. Treaty is now producing oil at the rate of 229 BOPD and natural gas at 822 MCF per day with expectations of huge increases in those numbers as other wells are worked over, re-entered, and additional new wells drilled on these new East Texas leases. Our news release of July 9, 2012 should be reviewed for considerable background information on our East Texas oil & gas fields."
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.
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.
SOURCE Treaty Energy Corporation