Click here to close now.




















Welcome!

News Feed Item

TREATY Energy Corporation Announces Update and Vision Statement

Chris D. Tesarski, Executive Chairman and CEO, States that "September 1, 2014 Marks the Beginning of a New Chapter in the History TREATY Energy"

NEW ORLEANS, Aug. 29, 2014 /PRNewswire/ -- TREATY Energy Corporation (OTCQB: TECO), a growth-oriented energy company in the oil and gas industry, today reported that its Board of Directors is pleased to announce the following update and vision statement to its shareholders and the investment community.  

Chris D. Tesarski, Executive Chairman and CEO of TREATY Energy Corporation, stated, "September 1, 2014 marks the beginning of a new chapter in the history of TREATY Energy."

The corporation has signed a LETTER OF INTENT with a private service company, "PRIVCO" to "liberate the oilfield service" assets of TREATY Energy into "PRIVCO" as part of the process to build an exciting, diverse and growth oriented full service company dedicated to optimizing and enhancing oil and gas operations in "the Americas."

Of particular interest to TREATY shareholders will be the fact that PRIVCO has an executed JOINT VENTURE AGREEMENT with a downhole tool company whose patented process has been credited with optimizing and enhancing production on several hundred wells in Canada, Mexico and the United States.  This process when paired with TREATY's oilfield services unit, will not only give PRIVCO the ability to optimize TREATY's production, but also allows PRIVCO the ability to service other clients.  This business arrangement comes with a built in network of six NATIONAL distributors that have been integral in marketing the tool that will now be important to building an opportunity platform for the TREATY oilfield service assets.

In addition, PRIVCO has acquired 50% of the interest of SANDBOX RESOURCE SOLUTIONS LLC of Abilene, TX.  "SANDBOX" has developed a proprietary process for converting "produced formation water" from oil and gas wells into fresh water suitable for a wide variety of applications including oilfield service, agriculture, and many other uses.  The SANDBOX water management system is being used commercially by a Denver-based energy company to integrate into a constructed wetlands project North of the Yellowstone River in Montana that utilizes the treated formation water from an oil battery to provide fresh water for cattle, wildlife, and oilfield applications.  Water hauling costs on this project have been reduced by approximately $3,000 per day.  Over thirty five to forty water-hauling trucks per week have been reduced to three.

TREATY will incorporate the SANDBOX water processing system into its "Stockton" field operations.  Initial drilling reports indicate the presence of oil but also significant quantities of water.  The decision was made to "go uphole".  Unfortunately, this decision rendered the well basically unproductive.  TREATY's technical team believes that if they recomplete the well in the lower water bearing zones they can significantly increase oil production.  The SANDBOX system will allow the company to produce significant volumes of fluid without the cost of drilling an injection well. The recycled water will have significant value in drought stricken West Texas.

In speaking about the PRIVCO opportunity Mr. Chris Tesarski, Chairman & CEO of TREATY, stated "TREATY shareholders will be pleased to note that the integration of the PRIVCO service platform will now allow the "500 Well Louisiana Project", "Project X" (certain contract opportunities in Central America and the Caribbean), and reinvigorated GEOTECHNICALLY DEFINED operations in Belize to move forward, thereby restoring the opportunity for TREATY shareholders to see value derived from what was a previously difficult chapter in the history of the company.  The combination of new management and technically qualified industry personnel in TREATY and PRIVCO will allow value to be realized that had for the most part been written down by the markets and shareholders alike."

"PRIVCO's commitment to integrating a full service operation into TREATY's growth oriented production platform and the ability to network its services to a growing number of energy companies in the Americas make this transaction a very attractive one for TREATY's shareholders," says Mr. Tesarski

PRIVCO is currently involved in the process of converting to a publicly traded company by completing the process of acquiring an existing public entity.  Once again, the Board is convinced that this will provide significant additional value to TREATY's shareholders.  PRIVCO and TREATY will keep shareholders apprised of developments as they occur.

As part of the changes in structure to the company the Board of Directors has negotiated a stock based dividend for all TREATY shareholders in PRIVCO.  During a rollout period of the next 90 days, TREATY shareholders as of September 30, 2014 (or such date as the market regulators might determine), will receive shares of the common stock of PRIVCO at a rate to be determined subject to all regulatory approvals as are common to such transactions.

In keeping with the aforementioned transaction and the commitment of the Board of Directors to increasing shareholder value, the company will undergo a process of defining TREATY's identity as an ENERGY PRODUCER.  Rooted in a firm belief that the "Americas" hold vast untapped, bypassed and forgotten energy reserves the company intends to continue its focus on "finding new oil and gas in old places."  

"We believe that this is the right place for us to be and welcome other players who focus on exploratory, wildcat plays, but TREATY will continue to focus on what we KNOW got left behind instead of risking shareholder value on what we believe MIGHT be there," says Mr. Tesarski.

To this end, the company wishes to announce the signing of three (3) new leases (defined by 3D seismic) in the Tuscola, TX area, not far from its Stockton operations.  These leases will give the company the ability to integrate PRIVCO's service platform into operations thereby giving TREATY a strategic advantage in developing its production operations.  In addition to the 3D seismic, TREATY has access through PRIVCO to thorough geotechnical data to assist in making strong, technically sound strategic development and optimization decisions with regard to its operational platform.

"TREATY shareholders have stuck with the company through some very difficult times.  Liberating the oilfield service assets of TREATY and partnering with PRIVCO will lead to strong growth for our shareholders in two dynamic companies.  A reenergized, reorganized and vibrant energy company and a new, visionary, and technology savvy oilfield service company.  With both companies committed to a strategy of integration, the Board sees this as a tremendous step forward" stated Mr. Tesarski.  He added, "It is time to ensure that our shareholders are rewarded for their loyalty to the company."

As promised, as of August 27, 2014, the company has officially engaged auditors to begin to undertake the process of bringing the company into regulatory compliance. 

"I am relieved that we have been able to now fully engage in the process of getting our company into compliance," said Mr. Tesarski.  "It has been my number one priority.  I have promised this to shareholders and they deserve nothing less than a 100% commitment to compliance." 

In addition, the Board wishes to assure shareholders that the company will commit to providing them updates on or around the 15th and 30th days of the next few months following this announcement utilizing its social media resources while it transitions the company through this reorganization and growth phase.  The Board looks forward to continuing to provide its shareholders with positive developments in this new chapter in TREATY's history.

Contact
Treaty Energy Corporation
Investor Relations
[email protected] 
Tel: 504-301-4475

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. 

About Sandbox Resource Solutions LLC

Sandbox Resource Solutions is a privately owned company dedicated to meeting your produced water requirements.  Our Resource Management System, "RMS" is engineered to remove oil, solids, iron sulphides and hydrocarbons and is proven to be more efficient and cost effective than traditional methods.  SRS is applying a patented proprietary technology to treat produced oilfield wastewater into useable, fresh water.  Our ground breaking technology is a 2 part system designed to reduce and reuse our most precious resource, water.  Micro-Encapsulating Flocculent Dispersion ("MFD") and desalination allow us to optimise and maximize our natural resources.  The company's focus is to deliver produced fresh water and subsequent by-products from its processes, which will be suitable for commercial, industrial and agriculture sustainability while reducing the strain on our natural resources.

http://www.sandboxresourcesolutions.com/

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.

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
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
"We have been in business for 21 years and have been building many enterprise solutions, all IT plumbing - server, storage, interconnects," stated Alex Gorbachev, President of Intelligent Systems Services, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
"We specialize in testing. DevOps is all about continuous delivery and accelerating the delivery pipeline and there is no continuous delivery without testing," noted Marc Hornbeek, Sr. Solutions Architect at Spirent Communications, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at @DevOpsSummit, Haseeb Budhani, CEO and Co-founder of Soha, shared five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the friction an...
"Alert Logic is a managed security service provider that basically deploys technologies, but we support those technologies with the people and process behind it," stated Stephen Coty, Chief Security Evangelist at Alert Logic, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to tran...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
"Our biggest growth area has been the security services, the managed services - the things that differentiate us in the market that there is no client that's too small and there's no client that's too big," explained Paul Mazzucco, Chief Security Officer at TierPoint, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.