SOURCE: Treaty Energy Corporation

March 09, 2010 09:30 ET

Treaty Energy Announces Resignation of Its President

HOUSTON, TX--(Marketwire - March 9, 2010) -  Treaty Energy Corporation (OTCBB: TECO), a growth-oriented energy company in the oil and gas industry, today announced that on March 2, 2010, Joe Grace resigned as a director and President and Chief Operating Officer of Treaty Energy Corporation. In a letter directed to Randall Newton, the company's Chairman and Chief Executive Officer, Mr. Grace indicated that his resignation was for health reasons.

Mr. Newton stated, "We are highly disappointed that Joe Grace had to resign as our President, COO, and a director of our company. Mr. Grace has indicated that while his health situation will not allow him to be a full time employee, he has agreed to a two year consulting contract as an advisor to the board and to the management team."

Mr. Newton added, "We are in the process of seeking candidates that might replace Mr. Grace on our management team, and hope that an early replacement can be recruited."

Treaty Energy filed a Form 8-K on the resignation of Mr. Grace on March 5, 2010.

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. The company's headquarters are located in Houston, Texas. For more information, please visit our website at: 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. Actual results may differ materially from such forward-looking statements.

Contact Information

  • Contact:
    Osprey Partners
    Tel: 732-292-0982
    Fax: 732-528-9065
    investors@treatyenergy.com

    Investor Relations:
    Equiti-trend Advisors LLC
    (800) 953-3350 toll-free
    (858) 436-3350 local