Monday, January 30, 2012

TREATY ENERGY CORPORATION FINDS OIL IN BELIZE

Oil find in southern Belize 
The international energy company Treaty Energy Corporation based in Houston and New Orleans today announced that it has struck oil in southern Belize. Drilling began on 24 January at the well near Independence Village, adjacent to the Port of Big Creek in the Stann Creek District. Final phase was commenced after review and compliance with all government regulations, requirements and inspections by Belizean officials and permission granted.

A press release posted on Treaty’s website, stated that the San Juan #2 well will be completed and put into production in the wake of the find, which Treaty estimates contains up to six million barrels of recoverable oil.

Consultants from Advance Geological Services said oil was present in the cuttings samples, and continued drilling showed a constant increase in hydrocarbon presence in the formation down to 1290 feet, after which there was a steady drop.

Treaty holds 200,000 onshore acres within the Princess Concession, where it believes there could be three oil-bearing fields of various sizes, as well as 1.4 million acres on the Paradise Concession.

Treaty is an international acquisition, development and production company focused on leases that are considered to have proven but undeveloped reserves.
Image courtesy of Treaty Corp.


January 31, 2012....Follow-up to this story: The government of Belize says: Treaty Energy Corporation is putting out "false and misleading" information.  "No live oil, in large amounts, was observed in the rock cuttings which normally indicates some level or potential." A statement issued this afternoon debunked the Treaty Energy hype which was widely reported on Monday. According to the Ministry of Natural Resources, only "minute traces of tar" was found by Belizean geologists who went in to conduct inspection of the company's mudlog and rock cuttings.

4 comments:

Richard said...

Hopefully good news for all of Belize if the opportunity isn't wasted.

Linda Crawford Elul said...

Good news indeed Richard, but who will benefit? SMH!!!

Curt Sanchez said...

More Oil...Mahogony, Barrier reef, Land, Ruins, Cayes, Coconuts, etc, etc, etc, Belize has an abundance of natural resources with a population of only 300,000...Belize should have one of the highest standards of living in the World...there is a great lack of knowledge going on in Belize...SMH

Henry Vernon said...

Belize should be one of the strongest and economically prosperous Caribbean countries if not for the internal corruption and greed of those in leadership...Our chlidren are being robbed of their Legacy...It is time to elect statesmen instead of politicians...Who will be the next George Price?