Treaty Energy Corporation reported the $1.2 million funding required to complete the two-part acquisition of four new Oil & Gas Leases in Shelby County, Texas is in escrow and this transaction will be finalized this week.
The acquisition of four new Oil & Gas Leases in Eastern Texas, and the plan to re-enter and re-complete the MADELEY F 1H well in Shelby County, Texas was first announced on July 9, 2012.
Since the start of this two-part acquisition Treaty Energy has re-opened the MADELEY F 1H well and it has been "Certified" production of 192 BOPD and 822 MCF of natural gas. Treaty is now connected to the XTO pipeline and waiting for that company's representative to open the valve accepting Treaty's gas into their pipeline this week. Division orders have just been signed with the Eastex Crude Co. located in Leesburg, Texas.