Allied Energy Corp (AGYP)

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Allied Energy Corporation Provides Updates on the Gilmer Lease Projects
https://finance.yahoo.com/news/allied-energy-corporation-provides-updates-143000558.html

The Annie Gilmer lease is in the small community of Crystal Falls, Texas on the banks of the Clear Fork of the Brazos river, approximately thirty miles north of the town of Breckenridge, Texas. There a total of five wells drilled on the lease, that is approximately 300 acres. There are five wells on the lease that were drilled to the Mississippi formation that is encountered at approximately 4100’ below the surface of the earth. The Mississippi formation, when caught on good geologic structure can produce prolific oil and gas cumulative numbers. There were six wells drilled on the lease starting in the mid 70’s with the last being drilled in 1989. Since the initial well, the lease has produced over five hundred thousand (5000,000) barrels of high gravity oil and over five hundred million (500,000,000) cubic feet of very rich natural gas. There are two permitted saltwater injection well on the lease. One of the wells will be re-converted to an active oil and gas producer.

https://alliedengycorp.com/annie-gilmer-project/

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