NEW ORLEANS, Dec. 11, 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 San Juan Prospect in Belize.
San Juan No 2 Well:
San Juan # 2 well was perf'ed in a 10-foot section between 1197 FT-1207 FT in order to test the Top of the Cretaceous Lime. We swabbed on the 1200 feet zone and got gas and traces of oil. We expect to continue swabbing sometime this weekend and if all goes well, begin work on installing pump jack and temporary storage and flow lines. We plan to pump the well into a temporary storage tank for a few days to determine the daily production rates.
San Juan no 1:
San Juan # 1 well was perf'ed in a 10-foot section between 1222 FT-1232 FT in order to test the Top of the Cretaceous Lime. Initial Swabbing of San Juan #1 indicates limited fluid entry and will need to be acidized. We are reviewing the best ways to accomplish this with or engineers and technical staff in order to determine an action plan going forward.
San Juan 3 and 4:
We have applied for 2 additional Permits for wells a mile north of the initial San Juan Wells. We are currently acquiring casing, pipes, and mud to be loaded during the next 2-3 days out of Houston. The truck is expected to leave Houston by Thursday and to arrive in Belize on Monday morning. We will be clearing the location and preparing the pad sites by this weekend and expect to begin drilling sometime around the week of December 26th. We expect drilling to take around 5-7 days.
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