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Treaty, U.S. Fuels Ink LOI for West TX Well Project
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Treaty Energy Corporation has signed a binding Letter of Intent (LOI) with U.S. Fuels Inc. of Breckenridge, Texas.
The eventual transaction to result from this LOI is an "Exploration Agreement" which is to be finalized before July 31, 2013, relating to five (5) West Texas leases covering approximately 1,830 acres.
Treaty Energy is currently drilling two wells on the 40 acre Mitchell Lease in Taylor County, Texas which is included in this agreement.
The other four Texas leases are as follows: Knott Lease – 40 Acres in Taylor County Stroebel Lease – 700 Acres in Eastland County Standard Lease – 400 Acres in Taylor County Bridges Lease – 650 Acres in Stephens CountyAndrew V. Reid, Chairman and CEO of Treaty Energy Corporation, stated, "Treaty will pursue drilling and rework…
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