Treaty Energy Holds Steady Today, Posts No Change After Sharp Rise (TECO)

After climbing the charts for the past two weeks, Treaty Energy (OTC: TECO) showed no change from yesterday’s closing price of $0.069. The stock opened at $0.072, rose slightly to $0.0725 and then dropped to $0.056 before settling at the exact same price it did yesterday.  Treaty Energy’s stock has been on a roller coaster ride of sorts for the past year. It stayed under the $0.07 mark until late January 2012 when the stock skyrocketed from $0.046 on January 27, 2012 to $0.0825 on January 30, 2012. The stock climbed even more the next day, peaking at $0.0975, more than doubling its closing price from four days prior. The next day, the stock dipped back down to $0.0545 and has stayed under $0.07 ever since. The stock reached its lowest point this year on June 27, 2012, at $0.0255.

Even though Treaty Energy’s stock price did not change at all, volume was up significantly. Today more than 5.3 million shares were traded, tripling the average volume of 1.7 million. Volume reached its peak on February 1, 2012, with nearly 47.2 million shares traded.  January 30, 2012 was not far behind, with a trading volume of more than 46.3 million shares. Although trading has been up since early May, with most days recording trading in the millions, no other trading day has even come close.

Treaty Energy, headquartered in Houston, Texas, is an energy company focused on using strategies to help increase natural gas and crude oil volume. Its goal is to target properties with proven reserves that can provide enormous potential for production. The company is currently evaluating properties in Kansas, Tennessee and Louisiana, and hopes to acquire more oil and gas leases soon in order to expand its growth.

The company has been making excellent progress on its San Juan #2 well in Belize. The company just announced yesterday that the well has three zones of interest and it was given the go-ahead to test the well for production.

On Monday, the company announced it recently acquired four oil and gas leases on properties in Eastern Texas. This multi-stage acquisition cost nearly $7.4 million. The company is hopeful that this acquisition will propel Treaty Energy onto a whole new level of growth and opportunity.

Treaty Energy Corporation was promoted heavily from April to July 2011 after the stock posted some huge gains. It was also promoted yesterday as one of the top stocks to watch. Will it hold steady again tomorrow? Or perhaps it will continue its uphill climb, since the company has had so much good news to share lately. Tomorrow’s closing bell will tell the tale.

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Published by Lisa Ray

Lisa has a Bachelor of Arts in journalism from Purdue University and 3 years of experience in the publishing field.