The Ministry of Natural Resources and the Environment informs the general public that the information being circulated to the media houses by Treaty Energy Corporation relating to oil discovery in the San Juan #2 well in southern Belize is false and misleading.
The Ministry categorically refutes the irresponsible actions of Treaty Energy Corporation in its misinformation on drilling success and therefore responsibly advise that an inspection conducted on the mudlog and rock cuttings from the well, by the Geology and petroleum department, confirmed only minute traces of tar which is commonly observed in rock formations in many wells previously drilled in Belize that were not commercial.
It must be emphasized that no live oil, in large amounts, was observed in the rock cuttings which normally indicates some level of potential and would require further analysis and testing to determine whether it is commercially viable.
The Ministry of Natural Resources and the Environment assures the general public that all confirmation on oil discoveries will be declared by the Government of Belize after proper testing and appraisal. The government did not endorse the declaration by Treaty Energy Corporation and therefore its press release was unauthorized. (Meanwhile, Treaty Energy Corporation continues to release information providing Confirmation of its Belize Oil Find)