NEW ORLEANS, May 15, 2014 /PRNewswire/ -- Treaty Energy
Corporation (OTCQB: TECO) (http://www.treatyenergy.com), a
growth-oriented international energy company, today announced the
signing of a Letter of Intent for a four well farmout drilling
program with Aquinas Energy Resources, Inc. on the Belle Wisdom
leases in Brazoria County,
Texas.
Chris D. Tesarski, Executive
Chairman of Treaty Energy, is pleased to announce that Treaty
Energy has signed a letter of intent to enter into a farmout
agreement with Aquinas Energy Resources, Inc., a Houston-based oil and gas company.
This agreement initially covers four well locations on the Belle
Wisdom Lease located approximately 45 miles southwest of
Houston in Brazoria County, just outside of Damon, Texas. The leases are geologically
positioned in the Damon Salt Dome area.
The four wells are expected to be drilled into the Marge and
Frio Attic pay zones and will range from 4,000ft to 5,000ft in
depth. Based on historic well production data, anticipated
initial production rates on these wells could yield at least 100
BOPD per well. According to geological data, there are more
than 440,000 barrels of recoverable reserves on the Belle Wisdom
leases.
Treaty Energy will receive 80% of the net revenue from
production, until initial investment payout, and then 70% of net
revenues after payout of all costs. This agreement is supported
with substantial technical data that will be posted on the Texas
Operations page of the Treaty Energy website
(http://www.treatyenergy.com/operations/texas) for investors to
review.
On this matter, Mr. Tesarski stated, "I am very pleased to
announce this project to Treaty Energy's shareholders. As my
first major project with the company, I want to ensure that Treaty
establishes more transparency regarding its operations. Not
only will this project potentially provide a great revenue stream
for Treaty Energy, but after the first four wells are drilled,
shareholders should look forward to other drilling opportunities on
over 31,000 additional acres controlled by Aquinas Energy."
Contact
Treaty Energy Corporation
Investor Relations
investors@treatyenergy.com
Tel: 504-301-4475
Fax: 504-324-0844
Company Links
Website: http://www.treatyenergy.com
Facebook: https://www.facebook.com/TreatyEnergyCorp
Twitter: https://twitter.com/TreatyEnergyCo
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 OTC.
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.
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SOURCE Treaty Energy Corporation