Monday, March 26, 2007 9:55:18 AM
Allenergy, Inc. (OTC: ALRY), is pleased to announce that it has scheduled an extensive remedial well workover on its newly acquired Dark Treasures lease located in Montgomery and Chautauqua Counties, Kansas. The Dark Treasures leasehold adjoins Allenergy's Ball Lease, also in Montgomery County, reinforcing the Company's strategic targeting and acquisition of additional oil and gas fields to further develop ALRY's existing robust asset base there.
"The importance of these two properties situated on the Longton Anticline is that several producing formations remain untested or fully productive for certain economic reasons, primarily the lack of a natural gas pipeline for transportation to the marketer," said Company President Larry Sanford. "Through our precise due diligence, Allenergy discovered a well that flow-tested 330 MCFPD but was completed in an oil zone. Our plans are to set a bridge plug to isolate lower zones and perforate the Layton formation. After a 48-hour shut-in we will decide to stimulate with spot acid or other options we have prioritized. This entire property has similar opportunities and ample space for drilling and testing deeper formations," Mr. Sanford concluded.
"Our interest to grow in this area has intensified as a result of the workover plan, and Allenergy continues to step up the process to optimize production," Mr. Sanford said.
About Allenergy: Allenergy, Inc. (OTC: ALRY), with a 17-year history in the oil and gas industry and current involvement in the multi-billion dollar natural gas fields in Kansas and Oklahoma, is strategically focused on areas of these states believed to contain more than 1.5 trillion cubic feet of natural gas and helium at shallow depths. The Company currently holds roughly 5,500 acres of leased property with over 100 producing oil and gas wells. For more information about the Company, please visit http://www.allenergyinc.com
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