Last night WTI oil prices closed at $80.49 and Brent Crude settled at $83.60. Analysts predict they’ll go even higher in coming months. An oil engineer last summer pegged oil and gas reserves at $32 million for Allied Energy Corp. (OTCKMKTS: AGYP). He was computing at $46/barrel. Energy prices are now nearly double that. Analysts say prices are going higher.
Independents like Allied Energy Corp. (OTCMKTS: AGYP) are expanding their oil & gas exploration footprint with more wells. Global energy is rising in price and experts say they will go higher. AGYP’s hidden gem is that its oil & gas reserves keep getting more valuable.
Media pundits are surprised at $+80/bbl oil. They are shocked these prices reached seven year highs. But insider analysts say oil prices will reach $+90/bbl or even $100/bbl. Shortages are starting already.
Allied Energy Corp. (OTCMKTS: AGYP) closed last evening at $0.3347, off 4.37%. Long investors are buying the dip. AGYP’s underground reserves in oil & gas are soaring. Reserves worth $32 million at the Annie Gilmer and Green Lease sites last July at $46/barrel price are approaching double that in the days ahead.
Analysts say oil is at $+80/bbl today and will grow to $+90/bbl and higher. Goldman Sachs predicts $90/bbl oil by year’s end. Some analysts believe high oil prices could be “here to stay.”
AGYP pressed its advantage last week when it acquired the Prometheus Lease in Texas for more oil & gas exploration. AGYP’s catalyst is that it is on the cusp of being an oil producer. This is a eco-green company making established but abandoned wells commercial again. Its experienced management uses new technology, such as horizontal ‘legs’, down hole drilling and fracking, to re-energize proven well sites.
AGYP has established its future for shareholders by tweeting videos showing that it is now pumping oil on its Green Lease Well sites Well 1 and Well 2. It also posted video tweets of the Annie Gilmer site well preparing for oil production.That tweet showed the Pumpjack installation on Gilmer’s first well.
The 28 Unit Well 1H at the Prometheus well site was a commercial producer. It was pumping 200 barrels of oil daily as late as 2016. It also produced 300,000 cubic feet of natural gas. George Montieth, CEO of AGYP, believes 2021 technology can result in that well meeting or surpassing those numbers.
Keep AGYP on your Watchlist. Energy stocks are growing fast. The trend lines are all moving in a higher direction.Link to more news are at https://alliedengycorp.com/ and https://twitter.com/AlliedEnergyCo1
