Energy company Allied Energy Corp (OTCMKTS:AGYP) recently made an important announcement regarding their rework activities to two of their leasing sites. The energy company has scheduled workers to its Green Lease site and its Annie Gilmer site, according to the CEO of Allied Energy Corp George Montieth.
The Green Lease site has cleared its wellsite location and built base pads for the brand new pumping units, as well as repairs to the tank battery facility used for production purposes.
The Annie Gilmer site has made less progress, but has recently cleared their site location to make room for workover rigs to begin their production.
“Everyone is anxious to make up for the time we lost due to heavy rains in North Texas. The ground has finally dried out, and we can easily and safely move equipment onto and around the lease sites,” says Allied Energy Corp CEO Montieth.
These rework activities should make the AGYP stock an interest to potential investors. This work brings the potential of additional announcements and oil production numbers in the near future. With WTI crude currently at $73 and Brent Crude at $75 investors are looking for ways to take advantage of the rising oil price and AGYP may look very attractive when oil starts flowing.
As of Tuesday at 1:39 AGYP is trading at .28 down a fraction on the day. Trading opened at .29 and has ranged between a low of .281 and a high of .325.