Treaty Energy has purchased the Herbert Q Groce lease, a 44.5 acre property located adjacent to the Byron Hill #1 lease on which the Robin Moody #1 well was drilled last week producing a gusher. The Robin Moody #1 well is currently in the completion stage with the ‘completion rig’ starting work on Monday, June 14.
Additionally, Treaty Energy has secured funding to re-enter a shut in well on the recently purchased Groce lease. This will be Treaty Energy’s third well in Tennessee.
Applications for permits and bonds will immediately follow those of the Schwallie well and re-entry of the Gorce well is scheduled directly behind re-entry of the Schwallie well. Assuming the Gorce well hits oil it will go to completion immediately following completion of the Schwallie well.
The Treaty Energy team is preparing to return to Belize to take final soil samples to finalize selection of its first onshore well site. Treaty Energy will be taking soil samples over a 300 square mile area, and based on the results the company will determine the most suitable site for success, and then arrange for necessary drilling permits.
