Welcome!

News Feed Item

Treaty Energy Corporation Retains Oil & Gas Industry Strategic Development Consulting Service

Treaty has Retained Inspire Energy Services of Houston to Conduct a Review of its Oil & Gas Operations, Business Strategy and Leadership Needs for the Future

NEW ORLEANS, March 11, 2014 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) (http://www.treatyenergy.com), a growth-oriented international energy company, today announced it has retained Inspire Energy Services (www.inspireenergyservices.com) effective March 10, 2014 to conduct a full review of the Company's oil and gas operations and assets to further develop and enhance the Company's on-going oil and gas strategy.

Treaty Energy Corporation logo

Inspire is a group of petroleum engineers and business development experts who advise small public and private companies seeking investment in operated and non-operated oil and gas exploration.  The consultants review reserves and recommend reserve value, property acquisition and financing strategy as well as direct operational efficiency. Inspire Energy Services advocates to management framing in reasonable stock price targets and works to disseminate that information through the management to the Company's current and potential investors. 

In early March, Inspire representatives conducted an initial review of the Company's assets and recommended a test through March 9th of the Gray Sand on the Stockton #2 well. The Company, in conjunction with the recommendations from Inspire, installed a new pump jack on the Stockton #2 well. The Gray Sand zone produced signs of oil production; however Inspire believes that based on geological data that the upper zone in the Gardner Limestone will yield greater production potential. The Stockton #2 well yielded promising returns on its initial test.

The petroleum engineer and spokesman for Inspire evaluating Treaty Energy's assets with Inspire informs, "It is important to spend a reasonable amount of time doing longer less time-sensitive production tests before making long-term investment plans. Direct off-set wells to the Stockton #2 well have been consistent producers at fairly low water cuts. The Mitchell #3 and #4, located on the lease next door, were evidence of this consistent high-yield production." The Stockton #3, which was drilled immediately after the Stockton #2, remains uncompleted.

Inspire's spokesman continued with, "The production tests that we are conducting on the Stockton #2 will be used to develop completion plans for the Stockton #3. In addition, the information on the Stockton #2 and Mitchell lease, which was previously drilled by Treaty, will provide us the ability to develop a large scale drilling and completion strategy on the Kubacak lease, which is being looked at as a large scale investment project."

On the subject of Treaty Energy, Inspire's spokesman further commented that, "Inspire believes that Treaty Energy has not always had the benefit of a thorough engineering assessment of their field operations. Recent operations have been successful based on prior geological data. However, with the new drills on the Stockton and Kubacak leases, a thorough reservoir and production study needs to be done. Inspire intends to ensure that the dollars spent in the field yield the highest return per investment dollar and, more importantly, maximize oil and gas production."

In addition to the completions scheduled for the current lease holds in the oil leases in Taylor County Texas, Inspire has recommended reviewing additional acreage acquisitions in the Abilene area. Inspire has already begun to evaluate new projects beyond the Kubacak lease for the Company.

Inspire has also done a preliminary evaluation of the Company's Belize Operations and believes that there may be significant possibility of success in that area. The Company's Belize operations have been on hold since November of 2013 after it was unable to successfully retrieve a stuck packer from its San Juan #3 well. The Company has remained in negotiations with Princess Petroleum since then and has not committed to a full pull out of operations in the region. Inspire believes that with increased investment dollars in the region, a large multi-rig drilling project is very possible, but would require a complete restructuring and renegotiation of the project from both Treaty Belize Energy, LTD and Princess Petroleum. Nevertheless, the Company is actively seeking other possible international ventures in the region.

Despite significant positive changes to Company operations already, Inspire representatives are projecting several weeks before making specific recommendations. Inspire has indicated that in order to move the Company towards increased future success, several additional dramatic changes may be necessary to improve production and drilling operations.

Andrew V. Reid, the Company's current Chief Executive Officer, stated, "I am fully on-board with the changes that Inspire has already recommended and look forward to reviewing the future changes they will recommend. Treaty and its management have undertaken a tremendous effort to move the Company on the right path since its unsuccessful marginal well project in 2012. In the third quarter of 2013, Treaty posted its first net profit in Company history."

Mr. Reid added, "Now, we are looking to lead with oil and gas professionals on board. Several positions, including the CFO and CIO positions remain vacant and need to be filled. We have asked the Inspire team to recommend sound leadership including new management where necessary. Shareholders should rest assured that large scale positive changes are on the way."

Contact
Treaty Energy Corporation
Investor Relations
[email protected]
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 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.

Logo - http://photos.prnewswire.com/prnh/20130716/MM48083LOGO

SOURCE Treaty Energy Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.