The company claimed that its first attempt to drill on its Tennessee leases is considered to be a major success. The company acquired five oil and gas leases in Pickett County, Tennessee, on April 13, 2010.
The leases encompass 246 acres and included two shut in wells, the first of which was re-entered on June 8, with these most positive results, the company added.
Treaty Energy indicates that there is a second shut in well that will likely be penetrated soon. These leases will accommodate up to 25 drilling sites.
Andrew Reid, chairman and CEO of Treaty Energy, said: “Our drilling success in Tennessee is a strong step forward for Treaty Energy. We are steadily moving ahead on all of our oil and gas projects, which include leases in Kansas, Louisiana, Tennessee, Pennsylvania and the biggest of all, our joint venture project in Belize with Princess Petroleum. We look to a very bright future for all of our stakeholders.”
