Allied Energy Corp (AGYP)

[Jacobi999]

$AGYP continues to consistently update its shareholders

RECAP of $AGYP 2022 OUTLOOK :

1) GILMER LEASE
Initial production data indicates that the pumping set up was insufficient to move the amount of fluids required using the gas bleed from the Wells. The current pump set-up yielded between 160 and 300 barrels of total fluids per day; however, the company discerned to achieve maximum potential at the Mississippi formation a pump setup that attains 1000 barrels of fluid per day, per well is required. The wells were showing between 2% to 5% oil cut even with these low pumping volumes.

Allied is currently in discussions with Tri-County to schedule installation for a 3- phase/200 amp service to the Gilmer Lease in Q1. As soon as electrical power is installed Allied will set an electrical submersible pump (ESP) in one of the wells to handle 1500 barrels of fluid per day. Allied will pump the well down and assess the data over a period of 60 days. Based on the results, we will repeat the process on each well until the lease is fully operational.

2) GREEN LEASE
In the coming weeks once the assessment of Well M-1 is complete, Allied will install the second ESP on Well X-3. Based on the success of Wells M-1 and X-3, Allied plans to evaluate three other Wells of interest at the Green Lease site. After achieving favorable production numbers over a 5-6 month period, Allied will plan a 3D seismic survey of the site to identify additional drilling targets.

3) PROMETHEUS LEASE
Prometheus Well 1H continues to pump as Allied refines the processes to maximize the potential of Well 1H. In order to improve the oil production from Well 1H, Allied is currently in the process of installing a transfer pump and will flare all the gas to reduce the pressure in the well. Accomplishing this will result in an increase in oil production for the well. Since the start of Q1, there have been continued oil sales from Well 1H as we look forward to seeing continued growth in numbers from this site.