Treaty Energy Corporation Updates Investors on West Texas Operations Treaty Energy Completes the McComas -A- 20 Well and Prepares to Drill the First of Two Shallow Wells on their Wooldridge Lease
NEW ORLEANS, Nov 27, 2012 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) (www.treatyenergy.com), a growth-oriented international energy company, announced today that it has completed the McComas –A- 20 Well. The well was drilled to a total depth of 1,900 ft on the McComas -A- Lease in Taylor County, Texas. Initial production came in at 18 BOPD.
Treaty is continuing to test and monitor this well and expects some improvement over the next several days. Treaty is currently in the process of filing for two additional drilling permits on the McComas -A- lease and will move ahead on this project immediately after approved.
12 Well Drilling Program
Treaty's 12 well shallow drilling program is on schedule to begin the week of December 3rd with the first two permitted wells. Drilling and completion is projected to take 7-10 days from the Spuding of the first well. Once completed, we will begin the process of permitting the remaining 10 well in this project.
Bruce Gwyn, Co-CEO of Treaty Energy Corporation, stated, "We are very pleased to report the progress being made on these two fronts. With the first new well of a 21 well program completed, the first 2 shallow wells scheduled to be completed in December, and production continuing to improve from workovers, we are confident of meeting our goals moving forward".
Treaty is in the process of updating its web site to include a page for project updates. Once we have the page functioning we will be posting timely updates on drilling and production numbers on a monthly basis at a minimum. Copies of the updates will also be distributed to investors through the Treaty email system. Investors should be sure to sign up through the website to receive these updates.
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