Alternate Energy says that Treaty Petroleum has merged with a wholly-owned subsidiary of the Company effective December 24, 2008. The Company anticipates that on or about December 29th the Company will change its name to Treaty Energy Corporation; its ticker symbol will change from ARGY to a new symbol; and the reverse split of its common stock by a ratio of 8.032633 to 1 will become effective.

Treaty has developed a new website for the Company reflecting the Oil & Gas business that is now its future. This new website will be introduced upon the change of the Company’s name to Treaty Energy Corporation. This merger will significantly enhance the ability and timeline for Treaty to meet future development and expansion goals.

Treaty continues to progress with its ongoing development and enhanced recovery program with re-completion, infield drilling and/or stimulation activities of multiple wells on currently owned properties in the prolifically productive Permian Basin of West Texas. Several new developmental drillsite locations are also mapped on acreage holding proven reserves, to kick off the first phase of a rapid, full development of the property.

Tags: Alternate Energy, Treaty Petroleum