NEW ORLEANS, July 18, 2011 /PRNewswire/ -- Treaty Energy
Corporation (OTCQB: TECO), a growth-oriented energy company in the
oil and gas industry, today reported on developments in
Belize leading up to the
implementation of its initial eight well drilling program.
Andrew V. Reid, Chairman and CEO
of Treaty Energy Corporation, stated, "We are pleased to confirm
that all things requested of Treaty by both the Belize Department
of Environment and Department of Petroleum have now been completed
and provided to the proper Belizean agencies and approved. In
addition, we are elated that the Director of the Ministry of the
Environment has signed off on our environmental checklist and now
confirmed that Treaty may move forward and drill the initial eight
wells identified by location in our drilling program."
Mr. Reid stated, "The Belize
Minister of the Environment indicated that we should deliver the
EIA report forthwith and prepare to immediately produce oil from
the first well once drilling is completed. To accelerate this
process we have retained an attorney from BNE to assist Treaty in
finalizing the surface rental agreement for planned drill sites and
communicate directly with Sir Manuel
Esquivel and Board of Directors of the land owner.
Furthermore, a local surveyor under contract with Treaty will
complete the survey for our initial drill site this week."
Mr. Reid went on to say, "Our stakeholders are reminded that we
established Treaty Belize Energy, Ltd. in May 2011 and located our corporate office in
Belize City. In addition, we
also equipped a field operations office in Placencia, Stann Creek
District, Belize, close to the
drilling sites to be developed, which are a three-hour drive south
of Belize City."
Treaty Energy has had meetings with a number of community
leaders in areas where the Company intends to drill and is pleased
to report that these community leaders are uplifted and energized
with our intent and in particular that Treaty will be providing
employment opportunities for numerous local Belizeans.
In conclusion, Mr. Reid stated, "Ongoing developments and
significant preparation in Belize
are proving advantageous to a successful drilling program.
Upon arrival of the drilling rig and support equipment by sea
on or about July 24/25, our Company will move ahead with an oil
program that holds the potential to be a magnificent life changer
for all Treaty stakeholders and the people of Belize."
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
Forward-Looking Statements:
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.
Contact:
Osprey Partners
Tel: 732-292-0982
Fax: 732-528-9065
investors@treatyenergy.com
SOURCE Treaty Energy Corporation