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#407470 - 05/11/11 09:25 AM Barrow’s law firm representing Treaty Energy
Marty Offline
PM Barrow’s law firm representing Treaty Energy, partner of Princess Petroleum

Treaty Energy Corporation, a US company contracted to work with Princess Petroleum in Belize, announced today, May 9, 2011, that it “has completed the organization of its new Belizean operating subsidiary, Treaty Belize Energy Limited.”

Treaty had announced last week that it had engaged a Belize City law firm to set up the local company, through which all its local business would be handled.

Amandala has learned that Treaty Energy Belize Limited shares the same registered address as the Prime Minister’s law firm, 99 Albert Street, Belize City, Belize.

That is so because it was the law firm of Prime Minister Dean Barrow, Barrow & Williams, which did the legal work for the company. The papers were filed by Barrow’s law partner, Rodwell Williams, SC.

Williams also did similar work for Princess Petroleum, which is the entity that was awarded the petroleum contract back in 2007. When we queried him about it last year, Williams had told us it was simply “a vanilla exercise!”

The official certification documents for Treaty Energy Belize Limited were issued by the Belize Companies Registry on April 28, 2011. Two locals, Cadine Rhamdas and Francelia Gallego, appear, temporarily, as the only shareholders with 1 share each.

Andrew V. Reid, Treaty Energy’s CEO, said, “All of our legal filings related to the formation of this new subsidiary will be posted on the Treaty Energy website (www.treatyenergy.com) within a day or so.”

Treaty also informed that “During this past week, Mr. Reid has been in Belize reviewing all areas of the projected well sites, meeting with the Environmental department, and the Geology and Petroleum department to review all paperwork, filings and processes that Treaty will carefully adhere to as the Princess/Treaty joint venture moves toward drilling its first wells in Belize.”

The release also said that Treaty Belize Energy Limited has established its corporate office in Belize at Newtown Barracks, Kings Park, Suite 125, Belize City.

It added that it will be hiring permanent Belizean office staff that will be ready to move into its new office by the end of May.

It also indicates that it has established a field operations office across from The Blue Lagoon in Placencia village, Stann Creek.

As our newspaper reported last week, Treaty Energy Corporation had announced that it would be moving ahead with plans to drill for oil in southern Belize, in the Stann Creek and Toledo Districts. It had announced the selection of 5 areas of interest, including the Maya Village of Medina Bank and the Monkey River area, in the area west of Big Creek.

The concession of Princess Petroleum covers 200,000 acres on land, while the offshore area is 1.8 million acres.

Of note is that the concession area includes a range of forest reserves, including Bladen Swasey, Deep River, Maya Mountain and Mango Creek.

Treaty says that Area #2, located right off Monkey River Road, is “very encouraging” and “shows promise for many wells,” as deep as 1,200 feet.


#408390 - 05/21/11 09:32 AM Re: Barrow’s law firm representing Treaty Energy [Re: Marty]
Marty Offline

Treaty publishes minutes of meeting at PM’s law firm - weeks before actual date

Treaty Energy Corporation, the joint venture partner of Princess Petroleum Corporation in Belize, has posted documents on its website, pursuant to the Companies Act of Belize, detailing the minutes of a one-hour meeting at Barrow & Williams, the Prime Minister’s law firm, at 99 Albert Street, at 9:00 a.m. on Sunday, May 29, 2011. That date has obviously not yet come, but the documents, posted by the company on their website, are stamped with Treaty’s common seal.

The minutes list the names of 8 people as present, including the two Belizean shareholders on record at the time Treaty Belize Energy, the local company, was formed last month; and eight others, apparently foreign interests.

The evident intent of the filing is to list four new shareholders: Treaty Energy Corporation, with 80% of 8,000 shares; Richard D. Bass, Jr., and Whit Cluff, each with 5% or 500 shares, and BASCO, LLC, with 10% or 1,000 shares.

The documents, stamped with Treaty’s common seal, list only two directors: Andrew Reid, chairman and CEO of Treaty Energy Corporation based in the US, and Bruce Gwyn, who is, according to a Treaty press release today, a director of Treaty Energy and founding partner of Level III Trading Partners, LP.

The Treaty press release, widely propagated on the Internet today, lists two more directors, however: Dr. Gregory C. Sampognaro, MD, a cardiologist and a longtime shareholder of Treaty Energy and the president of BASCO, LLC, a private investment firm; and Whit O. Cluff, another longtime shareholder of Treaty Energy and a licensed real estate broker in the State of Utah, according to the Treaty release.

Treaty Energy said that it is in the process of naming its 5th director to its Belize-based company.



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