Treaty Energy Corporation (PINKSHEETS: TECO.PK), a growth-oriented international energy company, today reported drilling success on its first oil well, SAN JUAN #2, in Belize, Central America.
Treaty’s Drilling Team Struck Oil on its First Well on the Princess Concession in Belize on Friday, January 27th, at about 4:30 PM-CT – This 1st Well, SAN JUAN #2, will be Completed and Put into Production Following Review by Belizean Regulatory Officials – The Stann Creek Field is Estimated to Contain up to 6 Million Barrels of Recoverable Oil.
The SAN JUAN #2 well is near Independence Village, Belize, located adjacent to the Port of Big Creek in the Stann Creek District.
Final phase of drilling this well commenced on January 24, 2012, after review and compliance with all government regulations, requirements and inspections by Belizean officials and permission granted.
The initial casing (8 5/8 inch) was set and cemented in place using upgraded cement that was requested (H Grade). Upon completion of the cementing process it was allowed to cure for more than 24 hours.
Once the cement was properly cured and inspected by government officials permission was then given to drill to depth on the well.
All information compiled by Treaty engineers, geologists and its own accomplished oil industry veterans (Steve York, Bill Harden) indicated that we would start to encounter shows of hydrocarbons around 1100 ft.
At 1235 ft hydrocarbons were detected in the form of a gas register. This presence of C1-C4 gas readings indicated a geo-pressurized oil bearing zone/gas driven. As drilling continued the indicator steadily increased from the depth of 1235 ft with readings being taken at 1 ft intervals.
On site analysis of the cuttings by Advanced Geological Services, Treaty’s “Mud Logging” equipment supplier and consultant revealed that hydrocarbons (Oil) were present in the cuttings samples. Continued drilling showed a constant increase in hydrocarbon presence in the formation through 1290 ft, after which there was a steady decline. This defined the producing zone to be 1235 ft – 1290ft.
Andrew V. Reid, Chairman and Co-CEO of Treaty Energy Corporation, stated, “We were advised by the drilling team to produce this first well, SAN JUAN #2, at the first pay zone based on their professional expertise. It is our plan to drill SAN JUAN # 1 deeper than SAN JUAN #2 in the belief that there may be additional pay zones present.”
The cursory field examinations of the cuttings samples indicate lime characteristics with good porosity and high saturation. On site personnel evaluated the samples and came to the following conclusions. The characteristics are very similar to some of the great oil producing zones in Texas, specifically the Ellenburger Lime, Hope Lime, Caddo Lime, Edwards Lime, etc. The characteristics of these Lime plays are very well documented with initial production rates up to and sometimes exceeding 1000 BPD. These plays have produced hundreds of millions of barrels of oil over the past century and have been the source of many of the great Texas success stories.
Based on analysis and results the following plans will be implemented as we work in accordance with Belizean officials to properly integrate and produce this well.
1) Total depth of the SAN JUAN #2 well will be 1300 ft.
2) The drill pipe will be removed from the hole and the hole will be conditioned for completion.
3) A “four-quadrant” camera shot will be made to provide the geologists a photo image of the pay zone in four 90-degree views.
4) The 4 1/2 inch tubing will be set and cemented in place in the well bore.
5) Wire Line Logs will be done to supplement the Mud Logging data.
6) The casing will be perforated in the oil bearing zone.
7) Standard completion procedures will be performed to bring the well on line.
Treaty is in the process of acquiring its own wire line logging equipment. This equipment will be delivered to Belize on Treaty’s newly acquired tractor/trailer that Treaty purchased to expedite deliveries of time sensitive items that are required for the Belize drilling projects.
Mr. Reid, commented, “Treaty’s initial analysis of the 200,000 acre ‘onshore’ Princess Concession includes 80 anomalies showing promise. Through early analysis we believe we have so far identified 3 possible oil bearing fields of various sizes. Treaty chose the current, Stann Creek Field, for our initial exploration wells because of its easy access by our drilling team, proximity to nearby port facilities, and it being well outside of any protected areas. Our internal analysis indicates that the Stann Creek Field covers an area of around 350 acres, and with 4-acre spacing we would expect to drill up to 90 wells in this oil field. Based on our initial findings, we estimate there are about 5,000,000-6,000,000 Barrels of recoverable oil in place in this first finding.”
Mr. Reid added, “We will commission third party engineers to confirm our estimates in the coming months. Treaty has 200,000 acres to explore within the ‘onshore’ Princess Concession and 1,400,000 acres on the Paradise Concession. We are taking all the necessary steps to move forward with an aggressive yet environmentally conscious drilling program on the Stann Creek Field and will continue analyzing all our additional acreage for additional drilling locations.”
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.
Press Release: Treaty Energy Corporation
“Be fearful when others are greedy, and be greedy when others are fearful.” – Warren Buffett
If you really want to make some considerable profits from the stock market, it is possible to make a considerable amount of money on penny stock trading. When you find the right penny stock to buy, knowing when to buy and sell is the second most important tool to maximizing your profits.
Being technical, analytical or just flat-out greedy when trading penny stocks is the easiest way to limit profits and, sometimes, even lose your entire investment. You need to have a strong and strict strategy to achieve your goal of maximizing profits while minimizing risks in penny stocks.
Listed below are a few of the many points each and every penny stock investor needs to discover.
- Do your own research.
- Trade Responsibly.
- Verify everything.
- Move Fast or Get Left Behind.
- Do not use market orders to enter a position, use limit orders.
- Have a System That fits You.
- If a Stock Gaps Open, Look for Pullbacks to Enter.
- Plan a Trade and Trade a Plan.
- Always use stop loss orders to protect yourself.
- Positive Self- Belief.
- Keep trading as Part of a Balanced life.
- If a stock breaks below our alert price GET OUT. Do not wait.
- View Trading as a Score in Points and Not In Money:
- Always take your profits whenever you can. Do Not Be Greedy.
- Work Hard at Learning How to Trade Properly and Keep Working.
- Do something to make someone else’s life better today.
About AimHighProfits.com
AimHighProfits.com strives to provide you with the hottest stock alerts in the market in Real-Time. We focus on stocks that trade for $5 per share or less, some as little as a few pennies with upside potential.
Our goal is committed to producing and publishing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions and to inform you of the best stocks in the market before they move. Our focus is primarily on OTC stocks in the stock market today which have traditionally been ignored by Wall Street.
We have particular expertise with internet stocks, gold stocks, renewable energy stocks, biotech stocks, oil stocks and green energy stocks. There are many hot penny stock opportunities present in the OTC market every day and we seek to exploit these hot stock gains for our members before the average daytrader is made aware of them.
Aim High Profits Disclaimer
This is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances.
AimHighProfits.com is a wholly-owned subsidiary of Kelevra Media Innovation.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision.
Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
For a complete explanation, please visit our disclaimer page.
ShareJAN