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TECO news 8 years 6 months ago #85

  • brian630
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Treaty Energy adds Coleman Crouch lease in Tennessee Comtex News Network ***"Datamonitor "
Jul 01, 2010 (Datamonitor via COMTEX) -- Treaty Energy , an oil and gas company engaged in exploration and production, has announced the addition of the Coleman Crouch lease to its oil and gas lease properties in Pickett County Tennessee . The new lease is located across the company's recently acquired Herbert Q. Groce lease.

The Coleman Crouch lease covers 54 acres. Treaty Energy currently has three wells at various stages of either completion or re-entry on its Tennessee leases.

The company plans to start drilling additional new wells on its Tennessee leases after completion of the three re-entry wells that have already been announced. With the two leases just acquired over the last couple weeks, the company could expect to drill up to 40 new wells as reserves are proven up on each new well.

Andrew Reid , chairman and CEO of Treaty Energy , said: "I am very pleased to tell our shareholders that Treaty's Tennessee -based oil and gas leases are rapidly becoming revenue producing properties. It is becoming increasingly clear that our Tennessee properties have the potential to be quite substantial assets as our overall plan to put about 40 wells into production becomes a reality."

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