Treaty Energy & Princess Petroleum Enter Into Joint Venture Agreement
Treaty Energy Corporation (OTCBB: TECO), a growth-oriented energy company in the oil and gas industry, reported that the company has entered into a 5050 Joint Venture Agreement with Princess Petroleum Limited, a Belize company that is engaged in the business of exploration, development and production of crude oil and natural gas.
Treaty Energy Corporation (OTCBB: TECO), a growth-oriented energy company in the oil and gas industry, reported that the company has entered into a 5050 Joint Venture Agreement with Princess Petroleum Limited, a Belize company that is engaged in the business of exploration, development and production of crude oil and natural gas.
The press release is quoted as saying:
Treaty is engaged in the acquisition, development and production of oil and natural gas. Treaty 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. This strategy allows Treaty to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration. Treaty’s headquarters is located in Houston, Texas.