Ministry of Natural Resources refutes claim of Oil Discovery in Southern Belize

Tuesday, January 31st, 2012

In a Press Release issued January 31st, 2012, The Ministry of Natural Resources, and the Environment refutes Treaty Energy Corporation’s Press Release on Oil Discovery in Southern Belize

Ministry of Natural Resources, and the Environment
Belmopan, Belize, C.A. ph: (501) 802-2711, (501) 802-2249;
Fax: (501) 802-2333, (501) 802-2083
Email: ceo@mnrei.gov.bz

My Ref: CEO/MNR/07/12 (47)

Press Release
Treaty Energy Corporation’s Press Release on Oil Discovery in Southern Belize

THE MINISTRY OF NATURAL RESOURCES AND THE ENVIRONMENT INFORMS THE GENERAL PUBLIC THAT THE INFORMATION BEING CIRCULATED TO THE MEDIA HOUSES BY TREATY ENERGY CORPORATION RELATING TO OIL DISCOVERY IN THE SAN JUAN #2 WELL IN SOUTHERN BELIZE IS FALSE AND MISLEADING.

THE MINISTRY CATEGORICALLY REFUTES THE IRRESPONSIBLE ACTIONS OF TREATY ENERGY CORPORATION IN ITS MISINFORMATION ON DRILLING SUCCESS AND THEREFORE RESPONSIBLY ADVISE THAT AN INSPECTION CONDUCTED ON THE MUDLOG AND ROCK CUTTINGS FROM THE WELL, BY THE GEOLOGY AND PETROLEUM DEPARTMENT, CONFIRMED ONLY MINUTE TRACES OF TAR WHICH IS COMMONLY OBSERVED IN ROCK FORMATIONS IN MANY WELLS PREVIOUSLY DRILLED IN BELIZE THAT WERE NOT COMMERCIAL.

IT MUST BE EMPHASIZED THAT NO LIVE OIL, IN LARGE AMOUNTS, WAS OBSERVED IN THE ROCK CUTTINGS WHICH NORMALLY INDICATES SOME LEVEL OF POTENTIAL AND WOULD REQUIRE FURTHER ANALYSIS AND TESTING TO DETERMINE WHETHER IT IS COMMERCIALLY VIABLE.

THE MINISTRY OF NATURAL RESOURCES AND THE ENVIRONMENT ASSURES THE GENERAL PUBLIC THAT ALL CONFIRMATION ON OIL DISCOVERIES WILL BE DECLARED BY THE GOVERNMENT OF BELIZE AFTER PROPER TESTING AND APPRAISAL. THE GOVERNMENT DID NOT ENDORSE THE DECLARATION BY TREATY ENERGY AND THEREFORE ITS PRESS RELEASE WAS UNAUTHORIZED.

31ST JANUARY 2012

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