Allied Energy Corp. (OTCMKTS:AGYP) Stock Spikes 7.01% To $0.4495 As Impact Of ‘Reserve Reports’ On Its Wells Raise Shares

The impact of engineering ‘Reserve Reports,’ documenting the assets under management (AUM) for Allied Energy Corp. (OTCMKTS:AGYP) may soon  not only force a short ‘squeeze’ but also drive more long investors into the stock. AGYP closed yesterday with a 7.01% spike to $0.4495 in heavy volume of 556,275. Technical indicators also were high: as Barchart placed a 56% buy ‘Signal’ on the stock, after an analysis of 13 indicators — including moving averages.  Short sellers are protecting their positions, but even their transactions could not prevent AGYP stock from rising higher to $0.4495. 

In a mixed larger market, predictions of a short squeeze have been published prior — the difference now is that AGYP filed its new Annie Gilmer site supplemental disclosure with the OTC as well as its ‘Reserve Report’ which details proven, probable and possible oil reserves on all of its current leases, starting with an engineering report on its Green Lease site.

At Green Lease, Mark McBryde, Petroleum Engineer found $2,944,900 of proved oil and $18,536,600 worth of probable and possible oil. At the Annie Gilmer site, he found proved oil and gas reserves of $6,704,900 and probable and possible reserves of $5,489,900, all computed at a market price of $46.26. This is far below today’s market prices of $66.66 for WTI crude and $69.05 for Brent Crude.  

Now with these engineering reports filed as supplemental disclosure statements with the OTC, AGYP has solidified its assets at its well sites. Investors long AGYP are gathering momentum. Short investors may have dominated trading in the past, but now see how attractive this stock may become.  The report findings were complete as of July 1, 2021.

AGYP’s online site describes in detail that this is an oil and gas company managed by energy seasoned veterans drilling leased old well sites with new technologies — making older commercial wells new again — with proven, probable and possible energy reserves. Another reason why this is valuable U.S. energy from American soil is that oil tankers in the Middle East face a precarious journey in hostile waters before making the trip to the U.S. AGYP’s American-sourced oil and gas is valuable and local. In terms of promising wells, the Green Lease and Annie Gilmer sites have now received petroleum engineering reports on their oil 

The impact of these two supplemental filings with the OTC is making itself felt in steadily rising prices for the stock, even in larger mixed markets. Longs are becoming more confident as AGYP sends corporate tweets on the performance of its wells. Some investors may have thought this was just another penny stock to be shorted. but the engineering reports now filed tell a different story. Long investors may have been right all along.

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