Monday, May 23, 2011
Treaty Energy Corp.
Treaty Energy has acquired eight oil & gas leases in Texas, adding another 1347 acres to Texas lease holdings.
Stephen L. York, Treaty Energy's President and Chief Operating Officer, stated, "With this new addition, Treaty now has a total of 1787 acres under lease in Texas that are spread over 13 leases. We will provide the terms of this latest acquisition via a Form 8-K filing this week."
Mr. York adds, "Treaty will assume operational control of these leases through the Company owned operating subsidiary, C & C Petroleum Management, LLC, in early June after all appropriate documents are filed with the RRC of the State of Texas."
This new acquisition generally consists of the following:
- Eight separate leases totaling 1347 acres.
- Thirteen fully equipped and producing wells.
- Eighteen shut-in wells to be put back on line.
- Twelve injection wells.
- Four water supply wells.
- Eight individual tank batteries consisting of seventeen storage tanks, eight oil/water separators (two less than six months old) six water pumping stations, miscellaneous tubing, pipe, and casings.
- Current production of oil about 20 BOPD.
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