Allenergy To Post Financial Results
Monday May 14, 10:00 am ET
COFFEYVILLE, Kan., May 14 /PRNewswire-FirstCall/ -- Allenergy, Inc. (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, said today it will disclose financial statements for the entire year 2006 and through April 2007 on May 15th at http://www.allenergyinc.com
. This can be viewed at the shareholders' update. "Although Allenergy is not required to release financial statements to the public, we intend to make the Company as transparent as possible so our shareholders can be confident in charting our growth," said Larry Sanford, President.
"Southeastern Kansas experienced extremely severe weather in December 2006 and January 2007 resulting in a disappointing variance of oil and gas production," Mr. Sanford said. "The fourth quarter of 2006 was the first unprofitable quarter since the second quarter of 2005. The weather problems continued with the arrival of Spring and record rainfall. Allenergy has only recently returned to producing and we have increased our production numbers substantially, allowing the Company to return to profitability."
"The financials that will be posted do not reflect the enormous production numbers that will be realized from the latest acquisitions of the Dark Treasures, Bayless "B" and Rex Horning Well Service," Mr. Sanford said. "The U.S. Securities and Exchange Commission does not allow a company to book proved oil and gas reserves, however, it can footnote these reserves. Allenergy has proved values from desorption laboratory tests of coal bed methane in excess of a half billion cubic feet. We are well positioned to have a banner year for the shareholders and our Company."
Allenergy, Inc. (OTC: ALRY - News) is strategically focused on areas of Kansas and Oklahoma believed to contain more than 1.5 trillion cubic feet of natural gas and helium at shallow depths. The Company currently holds approximately 5,500 acres of leased land with over 100 oil and gas wells on its producing properties.
Public Reply | Private Reply | Keep | Last Read Next 10 | Previous | Next
Add Board Mark ALRY Report TOS Violation
© 2007 InvestorsHub.Com, Inc.
About Us User Agreement Contact Us iHub FAQ Advertising ADVFN.com SiliconInvestor.com You are logged on to Server 4 as toad ws