Treaty Energy Corporation (OTC.BB: TECO) has closed an acquisition of a 70% working interest on a lease in Morgan County, Tennessee. The acquisition was completed with Green Light Energy LLC, with which Treaty Energy has other projects moving towards completion. The lease has four wells which are being re-entered after having been shut in for some time.
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One well has been re-entered and is producing 8-10 barrels per day. Additional work planned on the well is expected to further enhance its production. The second well is in the work over stage and is to be finished in mid-January.
About Treaty Energy Corporation
Treaty Energy (TECO) is engaged in the acquisition, development and production of oil and natural gas. The company acquires and develops oil and gas leases which have "proven but undeveloped reserves" at the time of acquisition. These properties are not strategic to large exploration-oriented oil and gas companies.
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