NEW ORLEANS, July 8, 2011 /PRNewswire/ -- Treaty Energy
Corporation (OTCQB: TECO), a growth-oriented energy company in the
oil and gas industry, today reported that it has made the final
payment on the acquisition of two leases in Texas, the SHOTWELL W. F. and the SHOTWELL "C"
leases. The total cash amount paid for these leases was
$170,000.
These SHOTWELL leases bring additional barrels of oil per day to
our existing Texas production.
These leases require no work over and more significant to
Treaty Energy is the addition of 30 virgin well drilling sites.
Stephen L. York, President and
COO of Treaty Energy Corporation, stated, "With the completion of
the SHOTWELL acquisition we now have 13 leases covering 1,900 acres
with current production of 35-40 barrels of oil per day."
Mr. York added, "I expect production to increase monthly as we
bring wells back online that have been shut in due to a variety of
reasons. We expect substantial production increases to be
made as we drill the ten new wells that are planned for completion
during the third quarter of this year."
Treaty Energy's CEO, Andrew V.
Reid, stated, "I am very pleased with the progress being
made daily in Texas and I look
forward to rapidly achieving the target goal of 1,000 barrels of
oil per day from our Texas
leases."
Mr. Reid stated further, "It is very exciting to announce that
we have made a real breakthrough in Kansas. As of today 'Treaty Development
of Kansas LLC' is in place with its registered office located at
16205 W. 287th St., Paola, Kansas
66071. Additional information on Kansas progress will be released next
week."
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