Allied Energy Corp (AGYP)

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Here's $AGYP GILMER LEASE REVIEW IN 2021 >> An executive summary of the Gilmer Lease was commissioned by the Company and completed by Petroleum Engineer Mark D. McBryde: https://www.otcmarkets.com/otcapi/company/financial-report/293640/content

The Annie Gilmer lease is a 300-acre site 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.

During Q3 and Q4 of 2021 at the Annie Gilmer Lease, Allied reworked Well #1 and Well #5 and subsequently connected the wells to a gas powered generator for electrical power to run the pumps. The Company chose to work with gas generators initially because Tri-County estimated that it would take up to 5 months to bring upgraded electrical power (3-phase) to the site. Based on the production data received during several months of pumping during September through November Allied assessed that the gas driven motors did not provide sufficient power to effectively pump the Wells down, it was also not cost-effective based on our models.