SOURCE: Treaty Energy Corporation

May 04, 2010 10:32 ET

Treaty Energy Updates on Belize Oil and Gas Project

This Oil and Gas Concession in Belize Covers 2,000,000 Acres in Three Tracts; One Offshore and Two Onshore

HOUSTON, TX--(Marketwire - May 4, 2010) -  Treaty Energy Corporation (OTCBB: TECO), a growth-oriented energy company in the oil and gas industry, today released updated information on its recently announced 50\50 Joint Venture Agreement with Princess Petroleum Limited ("Princess"), a Belize company that is engaged in the business of exploration, development and production of crude oil and natural gas.

Treaty announced last week that it signed an oil and gas joint venture in Belize (Central America) with Princess. The concession covers 2,000,000 acres in three separate tracts; one offshore and two onshore.

As can be seen from the satellite data below, the onshore tract closest to the Atlantic Ocean shows significant amounts of bright reds and yellows which could be potential hydrocarbons. The satellite's software picks up methane gas being emitted by possible hydrocarbons in the ground below. There is the possibility that some of the shows could be decomposing vegetation especially in marshy areas. However, this tract represents probably 110,000 acres and most of the bright spots are shown on dry areas.

This is particularly encouraging news considering an Irish concession nearby is producing 5000 barrels a day out of 8 wells and has completed 2 more wells expected to produce 1000 barrels a day each.

Treaty has engaged a highly respected geoscientist to oversee the taking of soil samples in the best areas proved by satellite and test the samples to determine where the hydrocarbons are and to select a drill site. This geoscientist will go to Belize in early May 2010 to do soil samples and other studies needed to select the first well site. Treaty intends to start drilling its first well no later than July 1, 2010.

Andrew Reid, President and CEO of Treaty Energy, stated, "We are very excited with the progress we are making on the Belize concession, and fully expect to achieve our target date of commencing drilling our first oil well prior to July 1st of this year."

About Princess Petroleum Limited
Princess Petroleum Limited, a company organized and existing under the laws of Belize, is an entity engaged in the business of exploration, development and production of crude oil and natural gas. Its oil and gas properties consist of two million acres of onshore and offshore areas of Belize that are owned by its parent organization, The Princess Group International, a major developer of hotels, casinos and real estate in South America, the Caribbean, and Europe. For more information go to: www.worldofprincess.com

About Treaty Energy Corporation
Treaty is engaged in the acquisition, development and production of oil and natural gas. Treaty acquires and develops oil and gas leases which have "proven but undeveloped reserves" at the time of acquisition... These properties are not strategic to large exploration-oriented oil and gas companies. This strategy allows Treaty to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration. Treaty's headquarters is located in Houston, Texas. For more information go to: www.treatyenergy.com

Forward-Looking Statements:
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing; responding to competition and rapidly changing technology; and other risks. These risks are detailed in the Company's filings with the Securities and Exchange Commission, including Forms SB-2, 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward-looking statements.

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