Treaty Energy Corporation announced initial production results for the newly re-worked Lakeshore #1 well in Shelby County, Texas.
Andrew V. Reid, Chairman of Treaty Energy Corporation, stated, "We reported in an earlier release that the Madeley F 1H well was certified at 192 BOPD and 822 MCF of natural gas per day. We also reported that the Madeley well pressure was very high when opened last Monday and we were going to hold off on drilling the lateral extension until we see a substantial drop in the well head pressure."
Mr. Reid added, "Because we had a drilling rig on site that was being billed on a per day charge we decided to rework the Lakeshore #1 well that is located about 1000 ft. away. Treaty now has the initial production numbers on that reworked well which is now producing 37 BOPD."
In conclusion, Mr. Reid stated, "I am extremely pleased with results so far from our Shelby County Texas leases. Treaty is now producing oil at the rate of 229 BOPD and natural gas at 822 MCF per day with expectations of huge increases in those numbers as other wells are worked over, re-entered, and additional new wells drilled on these new East Texas leases. Our news release of July 9, 2012 should be reviewed for considerable background information on our East Texas oil & gas fields."
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