Treaty Energy Corporation (PINK:TECO) is a growth-oriented energy company which aims at utilizing strategies and techniques to maximize oil and gas recovery. In recent months the company has announced a number of developments around its projects in Belize.
The press releases by the company seem fuel the price increase in July. Yesterday TECO closed 1.53% up at $0.0665 with 3 million shares changing hands.[BANNER]
Back on Jul. 6 TECO announced it had started selling oil through C&C Petroleum Management, a wholly owned subsidiary of TECO. Unfortunately, there has been no word on what revenue that has brought. However, the quarterly report for Q2 of 2011 is due soon, and it should shed some light on that matter.
A positive report would be needed to sustain the excitement the recently announced developments have given birth to. Two days ago, TECO issued the latest PR, saying Stephen L. York had made arrangements to contract work-over rigs which he expected to increase the oil production to about 1500 to 2000 barrels per month.
The anticipated report could give more credibility to the claims, and a more tangible idea as to how things are going for TECO. The company’s financial performance up to Q1 of this year hasn’t been very impressive, and investors will definitely welcome a change in the historically empty revenue line.
