Treaty released updated information on its recently announced 50\50 Joint Venture Agreement with Princess Petroleum Limited ("Princess").
Treaty announced last week that it signed an oil and gas joint venture in Belize (Central America) with Princess. The concession covers 2,000,000 acres in three separate tracts; one offshore and two onshore.
As can be seen from the satellite data below, the onshore tract closest to the Atlantic Ocean shows significant amounts of bright
This is particularly encouraging news considering an Irish concession nearby is producing 5000 barrels a day out of 8 wells and has completed 2 more wells expected to produce 1000 barrels a day each.
Treaty has engaged a highly respected geoscientist to oversee the taking of soil samples in the best areas proved by satellite and test
Andrew Reid, President and CEO of Treaty Energy, stated, "We are very excited with the progress we are making on the Belize concession, and fully expect to achieve our target date of commencing drilling our first oil well prior to July 1st of this year."
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