ALRY Allenergy Inc. Drills Three New Wells in January Thursday January 31, 10:00 am ET
INDEPENDENCE, Kan., Jan. 31 /PRNewswire-FirstCall/ -- Allenergy, Inc. (OTC: ALRY - News), 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, today said it is proud to report that it has completed the drilling of the third new well in the month of January. "We have drilled five of the fifteen wells of our drilling campaign with a 100% success rate and are more than pleased with the initial results," said Larry Sanford, President.
The first well drilled in January was G4-21 with pipe set in the Weiser Sand. Open hole logs showed excellent porosity in both the Redd and Weiser formations. G4-21 has been perforated, acidized and sand fraced and is ready for production equipment to be installed.
The second well drilled was the G4-19 also drilled to the Weiser Sand. The open hole logs in the Weiser appeared not to be as productive compared to the logs from our other new wells. However, the Redd Sand showed considerably better porosity than Allenergy's discovery well G4-15 660' to the Northeast. While drilling this well the Company encountered oil in the pits and samples saturated with oil. Mr. Luther Park, consultant, said that "this well shows that we are near or in the middle of the Redd Sand channel. Well # G4-20, when drilled, should prove this theory."
Plans are to perforate G4-21 and the Ball #1 test well will begin in February.
Well Ball #1 test well is the third well drilled in January. The previous four wells drilled showed in the logs a shallow gas zone with excellent porosity and no water. This could be the upper Layton as found in the Moore TM-1 well located in the Dark Treasures project but has not been identified as such. Ball #1 was drilled in between G4-17 and G4-21 where the best porosity showed on the logs.
Allenergy is currently interviewing people with experience to ensure that the Company's projections are obtained and possibly exceeded. "The revenue derived from Allenergy's aggressive drilling campaign will in part, expand our business plan that we have been following closely since 2005," Mr. Sanford said.
About Allenergy: 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 7,000 acres of leased land with more than 150 oil and gas wells on its producing properties.
Note: Certain statements in this news release may contain "forward looking" information within the meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such
statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.
Contacts: J.C. Friend at jcallenergy@aol.com Allenergy, Inc.: 877-277-8171.
E&E Communications Paul Knopick, (949) 707-5365 pknopick@eandecommunications.com
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