OIL PRICES RISING, $AGYP OVERSOLD OIL PRODUCTION P
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Posted On: 07/21/2021 8:21:47 AM
OIL PRICES RISING, $AGYP OVERSOLD OIL PRODUCTION PLAY ON THE OTC! >>>
Allied Energy Corp. (OTCMKTS:AGYP) Closes At $0.6300 Tuesday As Global Oil Prices Rise, Upside Grows In Green Lease Site
Allied Energy Corp. (OTC PINK: AGYP) stock rose Tuesday (July 20, 2021) reaching $0.63, rising 8.6%. Globally oil prices per barrel rose to $67.42 for WTI and $69.69 for Brent in after-hours trading, Bloomberg quoted. In late European trading Tuesday evening, oil prices also rose. All factors are going in the right direction for AGYP. The biggest underlying asset for AGYP is its progress at its Green Lease and its asset-under-management (AUM) drill sites there, particularly Wells M-1 and K-3, as AGYP races to produce oil from these wells.
AGYP calls this site “historically underutilized” while nearby locations have produced production to date greater than six times than current production. Complex limestone reservoirs now are being drilled with extensive development “due to improvements in completion technology,” the company said in its PDF presentation.
Simple improvements there, AGYP said, will allow for production ‘“to be accelerated” beyond that of past operators. This is what AGYP management does: utilize new technology to locate and drill for proven reserves of oil at efficient and low-cost lease prices. From abandoned wells, AGYP makes their proven oil reserves new again with the latest technologies.
Just as the broader Dow market recovered Tuesday by 549.95 points from its sell off Monday, long investors in AGYP are bullish on the future performance of AGYP as it is on the cusp of pumping oil from its Well M-1. Larger than that, this company has numerous similar wells on the Green Lease and Annie Gilmer Lease sites in Texas.
This boutique oil and gas company in its presentation on the Green Lease site said the site had originally been drilled back in the 1940s, but it has changed numerous times since and been under-utilized. AGYPs newest effort “will be the first to apply the most current drilling and production practices to the lease in 50 years.”
With new drilling technology, AGYP estimates the Green Lease has the potential to generate substantial production. How much? Studies show one section alone has almost $3 million in reserves on a $45/BO flat price deck. Adjacent lime lease sites are seen to have the potential of strong producers. New technology will enable AGYP to access these reserves, AGYP wrote in the presentation, prepared by privately-held Ardent Oil & Gas Consultants, specialists in sub-surface geology and geophysics for ‘conventional’ hydrocarbon exploration.
Proven and probable reserves of oil in the Green Lease site wells means that AGYP is now focused, too, on the lease road and actually selling. “The high production level of the lease will ultimately require a more efficient way to sell oil,” the presentation says. The solution: burying a sales line connecting to a sales battery, it detailed.
As global oil prices hold and rise, the potential outlook for AGYP improves — as the oil it sells from its leases will be higher priced. George Monteith, CEO of AGYP, is bullish on its new technology pumping the proven and probable reserves of oil on its lease sites. The AGYP-leased Gilmer site has produced in its lifetime more than five hundred thousand barrels of high gravity oil and more than five hundred million cubic feet of natural gas.
AGYP keeps short and long investors and shareholders current on its progress at its Well M1 at its Green Lease location in Texas. AGYP also believes its Green Lease Well K-3 is progressing, as well. For details, see AGYP’s company tweets. AGYP typically enters valuable agreements for 100% working interest and 80% net revenue interest stakes in wells with the leasehold owners.
https://www.drpjournal.com/allied-energy-corp...ease-site/
Allied Energy Corp. (OTCMKTS:AGYP) Closes At $0.6300 Tuesday As Global Oil Prices Rise, Upside Grows In Green Lease Site
Allied Energy Corp. (OTC PINK: AGYP) stock rose Tuesday (July 20, 2021) reaching $0.63, rising 8.6%. Globally oil prices per barrel rose to $67.42 for WTI and $69.69 for Brent in after-hours trading, Bloomberg quoted. In late European trading Tuesday evening, oil prices also rose. All factors are going in the right direction for AGYP. The biggest underlying asset for AGYP is its progress at its Green Lease and its asset-under-management (AUM) drill sites there, particularly Wells M-1 and K-3, as AGYP races to produce oil from these wells.
AGYP calls this site “historically underutilized” while nearby locations have produced production to date greater than six times than current production. Complex limestone reservoirs now are being drilled with extensive development “due to improvements in completion technology,” the company said in its PDF presentation.
Simple improvements there, AGYP said, will allow for production ‘“to be accelerated” beyond that of past operators. This is what AGYP management does: utilize new technology to locate and drill for proven reserves of oil at efficient and low-cost lease prices. From abandoned wells, AGYP makes their proven oil reserves new again with the latest technologies.
Just as the broader Dow market recovered Tuesday by 549.95 points from its sell off Monday, long investors in AGYP are bullish on the future performance of AGYP as it is on the cusp of pumping oil from its Well M-1. Larger than that, this company has numerous similar wells on the Green Lease and Annie Gilmer Lease sites in Texas.
This boutique oil and gas company in its presentation on the Green Lease site said the site had originally been drilled back in the 1940s, but it has changed numerous times since and been under-utilized. AGYPs newest effort “will be the first to apply the most current drilling and production practices to the lease in 50 years.”
With new drilling technology, AGYP estimates the Green Lease has the potential to generate substantial production. How much? Studies show one section alone has almost $3 million in reserves on a $45/BO flat price deck. Adjacent lime lease sites are seen to have the potential of strong producers. New technology will enable AGYP to access these reserves, AGYP wrote in the presentation, prepared by privately-held Ardent Oil & Gas Consultants, specialists in sub-surface geology and geophysics for ‘conventional’ hydrocarbon exploration.
Proven and probable reserves of oil in the Green Lease site wells means that AGYP is now focused, too, on the lease road and actually selling. “The high production level of the lease will ultimately require a more efficient way to sell oil,” the presentation says. The solution: burying a sales line connecting to a sales battery, it detailed.
As global oil prices hold and rise, the potential outlook for AGYP improves — as the oil it sells from its leases will be higher priced. George Monteith, CEO of AGYP, is bullish on its new technology pumping the proven and probable reserves of oil on its lease sites. The AGYP-leased Gilmer site has produced in its lifetime more than five hundred thousand barrels of high gravity oil and more than five hundred million cubic feet of natural gas.
AGYP keeps short and long investors and shareholders current on its progress at its Well M1 at its Green Lease location in Texas. AGYP also believes its Green Lease Well K-3 is progressing, as well. For details, see AGYP’s company tweets. AGYP typically enters valuable agreements for 100% working interest and 80% net revenue interest stakes in wells with the leasehold owners.
https://www.drpjournal.com/allied-energy-corp...ease-site/
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