NEW ORLEANS, Nov. 28, 2012 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) (www.treatyenergy.com), a growth-oriented international energy company, is pleased to update investors on the progress of the Madeley F1 H Well in Shelby County Texas.
The drilling of three separate 1,000 ft Lateral Legs was completed on November 5, 2012. During the drilling process, an estimated 300,000 gallons of water was pumped into the well, which had to be extracted prior to production. As more and more fluid was extracted the pressure and Gas production continued to increase. Treaty began putting the Gas into the sales pipeline on Monday, November 26, 2012 and will provide updates as gas production stabilizes.
Treaty continues to produce the Lakeshore well sporadically as work is done to get it into a solid "pumping rhythm". Treaty may experiment with some different perforations as well as other enhancement techniques in this well as the company continues to evaluate the situation.
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