Treaty Belize Energy on Schedule and Prepares to Drill First Oil Well of the Initial Eight
Drilling Rig to be Moved to #1 Well Site This Week; Drilling Crew to be in Belize by September 25-26 to Commence Drilling Program
Sep 13, 2011, 08:23 ET
NEW ORLEANS, Sept. 13, 2011 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO), a growth-oriented energy company in the oil and gas industry, today reported updates on the Treaty Belize Energy Oil & Gas project in Belize, Central America.
Treaty Energy CEO, Andrew V. Reid, reported that the ship carrying Treaty equipment on board left the port of Mobile, Alabama for Belize on September 11th, with expected arrival in the port of Belize between September 16th and 19th.
The equipment destined to be a part of the Belize oil drilling project included the following:
- Ford F250 Super Duty Crew Cab 4WD Pickup
- Jeep Grand Cherokee
- 4,200 Feet of Drill Pipe
- Four Crates (4' x 4') of Drilling Materials
- Two Detroit Diesel 6-71 Engines
- One 8' x 24' Fuel Tank
Additionally, the following equipment is being trucked from Texas to Independence City, Belize
- Drilling Collars
- Drill Bits – One each - 16 ", 11", and 7 7/8"
- Jolly Graph
- Blow Out Preventer
- Extra Hydraulic Fluid
- C-350 Mud Pump along with Pump liners, seats, swabs, etc.
- Vibrator Hose
- Mud Hopper
- Mud Hoses
- Pop off Mud Pump
- Mud Gauge
- Suction Hoses
- Hammer Unions
- Rod Oiler
- 120" Link Belt
- Stud & Nut Replacements
- Pit Liners
- Casing: 13 3/8 – 80'; 8 5/8 – 360'; 4 ½ - 2000'
- Sample Bags
- Vis Cup
- Weight Buckets
- Air Hose – 500'
- Drilling Mud, Soda Ash, Caustic
- Diesel Generator
In order to meet the planned drilling date in September the decision was made to truck various items so as to have them arrive at Independence City approximately the same time as the ship arrives in the port of Belize.
An additional shipment by sea will depart Mobile about September 23–25, and will have the Completion (work-over) Rig and Chevy 250 Crew Cab truck on board. The Completion rig will not be needed immediately and not hold up the drilling process, but will be in Belize for the completion portion of the first two wells.
The Treaty drilling crew will arrive in Belize to start drilling wells #1 and #2 on or about September 25-26. The primary drilling rig is being moved onto well site #1 this week and being properly positioned prior to the arrival of the Treaty drilling personnel.
Additionally, Treaty Belize Energy is in the process of establishing at least eight additional drilling sites near well sites #1 and #2 that upon approval by the proper Belizean authorities will be drilled successively one after another.
Mr. Reid added, "We are distinctly pleased with the progress being made by our people on both the Belize and Texas projects, and will report on further progress as it unfolds."
About Treaty Energy Corporation
Treaty 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. For more information go to: www.treatyenergy.com
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
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