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 s outhern Belize. Drilling began on 24 January at the well near , 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. Independence Village
A press release posted on Treaty’s website, stated that the
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.
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.he 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