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Sunday, July 06, 2008 10:42:37 PM
I start digging into the latest oil company that is hot on I-Hub and find out that it was previously into snow skates, and after that a dot com selling high end clothing that went belly up. I am finding that these up and coming oil and gas companies do not have any employees save for the principal officers. Their leases are typically situated all over god's creation, and they merely have a working interest in the wells. On one lease they have an interest of only seven tenth percent (.7%). On the other hand Allenergy has employees, has oil wells and leases that they themselves maintain, and their leases are all located in one general area and have complete control. Allenergy is no fly by night operation, been in business of oil and gas for 17 years!
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