Treaty Energy indicated that its first well on the Tennessee lease, the Robin Moody #1 well, is complete, electrical is connected, and was final inspected. Production has also begun on the well.
The well was allowed to run on the first day that produced 15bbls of oil. Treaty’s operator will soon begin the process of adjusting the pump times on the well to maximize production.
Treaty Energy’s second Tennessee well, Joseph Schwallie #1, located about 400ft from the Robin Moody #1 well, was re-opened last week and a completion rig arrived to start completing the well. Initial indications show two pay zones, one at 1,600ft and one at 1,800ft. This well will be acidized prior to starting production.
Treaty Energy indicated that it has funding in place to proceed with the required efforts to pick the first drill site for its Belize project and then drill well #1 as soon as can be done. It also confirmed that working with its partner, Princess Petroleum, will assure that all drilling projects will be in compliance with rules and regulations of the Belize government.
