Allied Energy Corp. (OTCMKTS: AGYP) triple tweeted on its progress on its newly acquired Prometheus Site. The financial markets liked the news and AGYP’s stock rose 17.94% Friday to $0.3774 in heavy volume of 799,850 — more than double the daily average.
The tweets documented Prometheus progress. One tweet showed the well site, the second tweet showed Prometheus progress and the newest video tweet Friday showed more progress. This week it could document additional Prometheus gains again.
The triple tweets reaffirmed its experience in making older, once-commercial wells new again. AGYP delivers oil & gas on America soil from abandoned or closed wells. A knowledgeable team of energy experts and its teams of workers have recently turned five wells on Texas leases new again.
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.
Earlier, AGYP hit oil and natural gas on three wells on its Annie Gilmer Lease site, the Company announced. The Annie Gilmer site is just one leased site that has been a ‘hit’ for AGYP. The second are the two wells pumping oil and natural gas now at the AGYP Green Lease Site. In total, AGP has discovered oil and gas at five American well sites — and is looking for more at the 1H Well at Prometheus.
AGYP is an independent oil & gas company stock to keep on your Watch List this week because it hit oil at five wells to date. Prometheus could be next.
An oil engineer last summer pegged AGYP’s oil and gas reserves at $32 million at the Annie Gilmer and Green Lease sites last July at a $46/barrel price. Market prices now (quoted above) are approaching double that. That would make today’s combined valuation some $32 million.
Global prices and shortages of oil and natural gas are spiraling out of control. Last evening, WTI Crude was trading at $83.76 per barrel while Brent Crude reached $85.53. Both were in the green as energy prices continue to rise.
Now that oil is at a seven year high globally, the upside for AGYP is great. OPEC has already told the Biden Administration it will not pump more oil, as requested. Analysts say oil prices 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.”
Oil options have now reached $200. The $100 call per barrel is the most widely held in WTI Crude.
AGYP’s catalyst is that it is now an oil producer. New technology, such as horizontal ‘legs’, down hole drilling and fracking, can make proven old wells new again.
Keep AGYP on your Watchlist. It is now an oil producer on five wells. Energy stocks are growing fast as prices rise.
Link to more news are at https://alliedengycorp.com/ and https://twitter.com/AlliedEnergyCo1
.
