Posted on 08-01-2011 09:00:28
Contracting Three Work-Over Rigs to Commence Efforts to Increase Oil Production from Texas Leases is Crucial to Long Term Production Goal of 30,000 Barrels Per Month
NEW ORLEANS, Aug 1, 2011 — Treaty Energy Corporation (OTCQB: TECO), a growth-oriented energy company in the oil and gas industry, today reported on activities of C&C Petroleum Management LLC, the Company’s Texas operations subsidiary, related to increasing oil production from its Texas leases.
Stephen L. York, President and COO of Treaty Energy Corporation, stated, I recently made arrangements to contract three work-over rigs to commence work beginning this past Saturday, July 30th on our Texas leases. We will work-over 14 wells in the next two weeks.
Mr. York added, I’ve also purchased pump parts, barrels, seals, cups and other items to allow us to rebuild pumps on our Texas properties. Purchased items include drifted and tested tubing to replace defective joints that are found.
C& C Petroleum has also contracted an electrician to revamp circuit boxes on the McComas Lease to handle additional electrical supply needs on this lease and has requested bids on water storage tanks for the Company’s Willingham Lease.
Mr. York commented, These rework activities are expected to increase our oil production by 300-420 barrels per month over the next two weeks, to about 1500 to 2000 barrels per month. While our stated goal is to bring our Texas oil production to 30,000 barrels of oil per month as soon as practical, the economical steps being taken at this time are crucial to us meeting out long term goals in Texas.
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
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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