TECO - Treaty Energy Corp. (Pink Sheets) has risen from the ashes the last few days as traders have pushed the stock up over 100%. The move is powered by multiple news releases out of the company over the last few days. The first of which was released on April 12 announcing that TECO has issued a letter of intent to purchase additional oil and gas producing leases in the Shackelford County Regular Field, located in the Texas 7B Oil District. The properties are producing leases and reported in January of 2011 production rates of 379 barrels of sweet crude oil.
On April 14, TECO announced appointment of a new non-executive director for a three year term beginning in April 15. The new director is Mr. Bruce Gwyn, the founder and managing member of Level III Trading, LLC.
TECO spiked to a high of .0475 in Friday's trading session on heavy volume. Shares traded today were over 12 million with a average daily volume of 593,197 over a three month period showing renewed interest in TECO by penny stock traders. The 52 week high is .09 and the 52 week low is .01
4/15/2011