Allied Energy Corp. (OTCMKTS:AGYP) Getting Closer To Pumping Oil: Sends Tweet On Restoring Electrification To Green Lease Site

Allied Energy Corp. (OTCMKTS:AGYP) is getting closer to pumping oil from its Texas Wells. It sent a tweet today (July 28, 2021) saying: “Tri-County electric is currently replacing the down poles on the Green Lease. Regaining electrical power is essential to achieving full production on our Wells.” We wrote yesterday that management is more concerned now about pumping oil from Green Lease location and selling it rather than just finding it. It has identified Well on Green Lease site that has proven oil and now needs the infrastructure — such as electrification — to operate Well and, later, sell its oil assets for revenue. 

 Closed Wednesday at $0.4207, off 10.50% or down $0.0493 in moderate volume of 362,690 vs. 451,218 average volume in a flat mixed market. The latest tweet indicates that AGYP is getting close to regular pumping at its Green Lease site. Long term investors in AGYP see a low cost loading zone opportunity in the lower closes. Chart analyzers see an oversold stock. 

AGYP drew market interest when it filed its initial July 22, 2021 ‘Reserve Report’ which details proven, probable and possible oil reserves on all of its current leases, starting with an engineering report on its Green Lease site. Prepared by Mark McBryde, petroleum engineer, the Green Lease site report has already been filed with the OTC as a supplemental disclosure. 

More are expected from McBryde on the proven Annie Gilmer lease site. All reports by site will be made available to the OTC markets via supplemental disclosure. The first report alone shows its Green Lease site has 229,400 “probable” barrels of oil with pre-tax future net revenues of $5,781,300 at an extremely low $46.26 price point — the one month trailing average plus costs of extraction. AGYP is documenting its oil valuation — assets under management (AUM) for itself and its shareholders/investment community. “Possible” oil at the leased site was reported at 448,000 barrels — worth $12,755,300 at present value. 

Electrification of the Green Lease Site to its Wells confirms that AGYP management is focused now on pumping — and selling oil — from its Wells on the site, rather than simply finding it. McBryde’s report documents the assets-under-management (AUM) for the oil, which AGYP has negotiated for the dominant share of the oil from these wells. 

Global and domestic oil is holding in the peak $70s per barrel price range. WTI settled at $72.30 and Brent Crude prices closed at $74.67. Both settled green and that is a strong sign for AGYP — making AGYP’s Green Lease Wells oil assets even more valuable. Barrel price of WTI and Brent Crude are significantly higher than the $46.26 used in the McBryde computations — making the AGYP oil even more valuable.

George Montieth, CEO of AGYP, said, “Mark is a respected oil man with a long history of success within the industry…and has worked for senior oil companies. The reserve report that Mark is preparing will provide the company with a financial valuation that can be used within the oil and gas industry.”

A PDF presentation prepared for AGYP by an oil & gas expert consulting firm  said the Green Lease site said the site had originally been drilled back in the 1940s, but it has changed hands 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.”

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