Treaty Energy finds oil in Belize

Oil find: Hydrocarbon bearing zone uncovered by Treaty Energy at first well in Stann Creek prospect

Treaty Energy

Bill Lehane

, Bill Lehane

 30 January 2012 12:17 GMT

Treaty Energy Corporation has said it has encountered oil with its first well at the Princess Concession in Belize.

The New Orleans and Houston-based player said the San Juan 2 well would be completed and put into production in the wake of the find at the Stann Creek field, which Treaty estimates could contain up to six million barrels of recoverable oil.

Co-chief executive Andrew Reid said the San Juan 2 would be produced at this first pay zone, adding: “It is our plan to drill San Juan 1 deeper than San Juan 2 in the belief that there may be additional pay zones present."

Initial examinations of cuttings show “lime characteristics…

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