Treaty Energy Corporation has recently been assigned a 38.5% net revenue interest (NRI) with a 50% working interest (W/I) on the existing Mitchell #1 well in Tuscola, Texas from U.S. Fuels of Breckenridge, Texas. The Company successfully completed a work over the same day in order to immediately increase the Company's production and revenue.

On July 28, 2013 the Company received notification that a work over rig had arrived to complete work on the long awaited Standard #2 well in Tuscola, Texas. After discussions with management, landowners and field operations, the decision was made to defer operations on the Standard lease temporarily to acquire a larger and more favorable working interest on the Mitchell #1 well.

The Mitchell #1 well, which is located 813' from the Mitchell #3, received an initial production rate of 160 barrels of oil per day (BOPD) and produced a small amount of gas. While the Company plans to reduce its reliance on marginal wells, the Mitchell #1 has been a consistent producer for over 15 years, making the well a worthwhile investment given the current production levels of the Mitchell #3 and #4.

Tags: Treaty Energy Corporation