A pivotal moment is coming for Allied Energy Corp. (OTCMKTS PINK: AGYP). It closed green again yesterday for the second straight evening at $0.2960 — up +0.34%% — after closing green Monday night at $0.2950, up +1.65%. Loyalty to this company from long shareholders is keeping the stock shares positive even in light volume and they are playing the long game successfully against short holders. A pivotal moment is coming as long term holders seek an oil and gas producing moment from AGYP.
Long holders keep Texas-based AGYP green, awaiting oil and gas production from the team at AGYP. It is following a business plan of applying new extraction techniques from existing older wells that – now abandoned — were once commercially viable and productive. That’s AGYP’s business plan from its experienced and senior management.
In extremely light volume of 66,191 — less than 20% of its average volume of 385,060 — AGYP is holding its share price even as the oil sector remains volatile due to storm Ida shutting down oil production in the Gulf Coast area and news-making turbulence in the Afghanistan-Middle East oil producing region. The reduction of 96% of the Gulf Coasts’ oil production.is only short term. Long term, trend lines for domestic and global oil remain positive.
Light trading reflects that long term shareholders of AGYP are holding their positions awaiting a defining oil and gas production moment. This move also reflects that they are successfully holding off short sellers, which may result in a short squeeze. The most promising well sites for AGYP are the Green Lease Site and Annie Gilmer Site. In all of this worldwide volatility, WTI Crude Oil is holding at $68.50 and Brent Crude at $72.99, according to OilPrice.com. That’s positive for AGYP.
Some of the mystery of the two most promising oil and gas well sites for AGYP was removed when Petroleum Engineer Mark McBryde submitted his technical reports and projections and AGYP filed them as supplemental engineering reports with the OTC on its leased wells in Texas.
At the Green Lease Site, McBryde 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 — see above for last night’s significantly higher settlement prices, reflecting the company’s real AUM value.
Now, AGYP’s long shareholders are waiting for an oil and gas producing moment. The company has repeatedly updated shareholders on its well site progress with a series of corporate tweets. Reinforcing management’s confidence is its Q2 2021 financial report which reflects AGYP’s discipline in cutting operational and net losses and management’s reinvestment of its own compensation into reinvestment of its efforts to produce oil and gas product.
Barchart has now set the first resistance point for AGYP at $0.3167. This price point is achievable. Watch the price of oil hold high and AGYP’s drilling progress on its leased wells in Texas for the pivotal moment.
AGYP long holders are sitting tight and waiting for the oil and gas moment.
AGYP’s stock performance is running counter to the oil sector It has recently shown the strength to bounce almost 10% in a single day from a market dip. One day last week, its stock jumped 9.76%, even in a volatile market.
AGYP continues to string together green closing days as the oil and gas energy sector remains volatile with green and red closes.
The impact of AGYP’s two supplemental filings with the OTC is making itself felt in steadily rising prices for the stock — as oil and gas reserves at its leased well sites have been documented. Link to more news are at https://alliedengycorp.com/ and https://twitter.com/AlliedEnergyCo1