NEW ORLEANS, Dec. 18, 2012 /PRNewswire/ -- Treaty Energy
Corporation (OTCQB: TECO) (www.treatyenergy.com), a growth-oriented
international energy company, is pleased to announce a new drilling
arrangement with TNC Energy, LLC, of Woodward, Oklahoma, for a 21 Well Drilling
program in West Texas.
Treaty Energy Corporation had previously announced the funding
of both a 9-Deep Well project, and a 12-Shallow Well project.
TNC Energy, LLC has been nominated to handle both projects from
start to completion, including all ancillary services, which will
allow Treaty to complete the project in the most efficient cost
effective manner.
TNC Energy, LLC is a newly formed drilling company managed by
the Weder Family, who's Edge Services, Edge Wireline, and Pistol
Drilling business units have been providing oil field services
since 1984. TNC, through its affiliated companies owns and
operates a large 10 rig fleet service drilling company, and
wireline services company, boasting highly skilled and vastly
experienced personnel with a wealth of knowledge, spanning many
years in the oil drilling industry, to draw from.
TNC, through related companies, has provided drilling services
to an ever-expanding list of satisfied customers. TNC's
premier client list comprises some of the major names in the oil
and gas industry, including: BP America, Inc., Marathon Oil
Company, XTO Energy, Chesapeake Operating, Inc., Sandridge Energy,
Inc, EOG Resources, Inc., Whiting Oil and Gas Corporation, Apache
Corporation, and Linn Energy. TNC combines the highest
quality state-of-the-art drilling equipment with the most
experienced and proven drillers, technicians, well-hands and
supervisors.
Co-CEO of Treaty Energy, Bruce
Gwyn, stated, "Now that TNC Energy has been engaged for the
drilling of these West Texas
projects, Treaty shareholders will start to see immediate results
from this new strategy. We have a 21 well program that has
been pre-funded and now we also have a contract with a professional
and experienced drilling company to drill all of these wells
through to completion."
Mr. Gwyn added, "With the expertise of TNC Energy, our
production will start to rise quickly, which brings revenue
directly to the bottom line. Once these 21 wells are drilled
by TNC Energy, we should see production levels around 400
barrels/oil per day, and this should be completed by the end of the
1st quarter of 2013."
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
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:
Treaty Energy Corporation
Lee Schlesinger
Tel: 504-754-6926
Fax: 504-324-0844
SOURCE Treaty Energy Corporation