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
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that’s no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, will explore how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He wi...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, discussed the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insights from the vast t...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
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, will provide 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 ...