Treaty Energy acquires pulling rig for Texas-based subsidiary

Source: Treaty Energy Corporation

Treaty Energy Corporation (TECO) (, a growth-oriented international energy company, today announced that an additional Pulling Rig has been purchased for completion of wells scheduled to be drilled in West Texas.

Andrew V. Reid, Chairman of Treaty Energy Corporation, announced, "Treaty has purchased a Wilson Double Drum Pulling Rig in a cash transaction. This unit, valued at $185,000, will be used to complete the 'Nine-Well Project' (to 3000 ft) that will be started upon completion of the McComas #20 well that is currently being completed."

Mr. Reid added, "The funding for the 'Nine-Well Project' is in place and upon completion of the McComas well the funding will be released."

Finally, Mr. Reid stated, "Treaty continues to move forward with our accumulation of national and international holdings and our Q3 revenue will be substantially increased over past quarters, a trend that will continue through Q4 of this year."

In closing Mr. Reid expressed his appreciation to all Treaty stakeholders and employees for their support as Treaty is building both an international Oil & Gas Operating/Production Company and a self-contained Drilling and Completion Company.

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