Treaty Updates Progress in Belize
Treaty updated on the progress of its Joint Venture with Princess Petroleum Limited on the 2 million acre concession in Belize.
Treaty Energy's contractor, Radar Satellite Solutions (R.S.S.) has completed its initial analysis of a portion of the land based concession. Mike Morgan, spokesman for R.S.S., stated, "R.S.S. has concluded a geophysical 3-D mapping of the prolific 'Spanish Lookout' oil field in the Northwest area of Belize. This was done to gain a better understanding of known reservoir characteristics in Belize."
R.S.S. has tuned its equipment to the electrical frequencies of that study to enable R.S.S. to more easily identify similar reservoir formations on the Princess concession.
Mr. Morgan stated further, "Early indications have shown two areas on the Princess concession that have many characteristics similar to the Spanish Lookout field. The first prospect is referenced as Orchard 1 and the zone being studied is at 3300 ft. This is the first of the two zones that we will study extensively and we are optimistic that we will locate commercially viable hydrocarbons in this field."
Andrew Reid, Chairman and CEO of Treaty Energy, stated, "I am very pleased with the promising outlook of the information coming from the first deployment of the R.S.S. crew. Treaty Energy is looking forward to the continuing efforts of R.S.S. in establishing our first well site in Belize."