Belize

Treaty Energy Corp., Houston, and Princess Petroleum Ltd., a Belize company, said early analysis of satellite remote sensing data on the onshore part of the companies’ 2 million acre offshore-onshore concession identified two areas with many characteristics similar to Spanish Lookout oil field in northern Belize.

Nov 3rd, 2010

By OGJ editors
HOUSTON, Nov. 3
– Treaty Energy Corp., Houston, and Princess Petroleum Ltd., a Belize company, said early analysis of satellite remote sensing data on the onshore part of the companies’ 2 million acre offshore-onshore concession identified two areas with many characteristics similar to Spanish Lookout oil field in northern Belize.

“The first prospect is referenced as Orchard 1 and the zone being studied is at 3,300 ft. This is the first of the two zones that we will study extensively and we are optimistic that we will locate commercially viable hydrocarbons in this field,” Treaty Energy said.

Radar Satellite Solutions, Dallas, which has concluded 3D geophysical mapping of Spanish Lookout field, will return to Belize in November 2010 to identify a location for drilling of the first well.

Treaty Energy previously said it is targeting a 10,000-acre area in south-central Belize near the southern highway that provides quick access to Punta Gorda and Belize City ports.

More in Companies