PR Newswire
NEW ORLEANS, Aug. 15, 2012
NEW ORLEANS, Aug. 15, 2012 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) (www.treatyenergy.com), a rapidly growing international energy company, today reported financial results for the second quarter and six months ended June 30, 2012.
Revenue from continuing operations for the second quarter of 2012 was $13,087 as compared to $69,530 in the second quarter of 2011, and for the first six months of 2012 revenue was $70,103 as compared to $69,530 for the first six months of 2011.
Total Comprehensive Loss for the second quarter of 2012 was $0.993 million, or $0.00 per diluted share, as compared to a loss of $3.947 million, or $(0.01) per diluted share for the second quarter of 2011. Total Comprehensive Loss for the first six months of 2012 was $1.793 million, or $(0.00) per diluted share, as compared to a loss of $4.193 million, or $(0.01) per diluted share, for the comparable period in 2010.
The following link will take you to Treaty Energy Corporation's Q2-2012 filing:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8770646
Other Financial Highlights:
Operational and Other Highlights:
Andrew V. Reid, Chairman of Treaty Energy Corporation, stated, "We are in a very exciting time for all stakeholders in Treaty Energy. We see Q3-2012 as the 'breakout' quarter for our company. This is the quarter that Treaty makes the move from being a 'development stage' company to becoming an international oil & gas production company."
About Treaty Energy Corporation
Treaty, an international energy company, 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 Energy Corporation (TECO) trades on the OTCQB, the marketplace for companies that are current in their SEC reporting requirements. Investors can find Real-Time quotes and market information for Treaty Energy at http://www.otcmarkets.com/stock/TECO/quote
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 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward-looking statements.
Contact:
Osprey Partners
Tel: 732-292-0982
Fax: 732-528-9065
investors@treatyenergy.com
SOURCE Treaty Energy Corporation
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