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Allenergy Inc. Drills Four New Wells
in 2008
INDEPENDENCE, Kan., Feb 28, 2008 /PRNewswire-FirstCall
via COMTEX/ -- Allenergy, Inc. (OTC: ALRY), with a
17-year history in the oil and gas industry and current
involvement in the multi-billion dollar natural gas
fields in Kansas and Oklahoma, today announced that the
Company has drilled its fourth new well since January 1,
2008.
Fields #1 has been drilled and 4-1/2 casing cemented top
to bottom. The open hole logs indicate three CBM {Coal
Bed Methane} formations. The Mulky, Ironpost and the
Croweberg zones have been identified to be the main
targets for completion with excellent paying quantities.
The Fields #1 was a wildcat discovery well for the CBM
zones which have not been established in this region of
Chautauqua County, Kansas. "We are extremely pleased
with these results proving that our geological studies
can prove out this 300 acre Fields lease," said Larry
Sanford CEO.
Allenergy also announces a preliminary production report
on the Ball lease atop the Longton Anticline in
Chautauqua County. Wells GB-15, 17, 18 and 21 have been
completed and are on line. "With all four wells pumping
into the same tank battery, it is difficult to determine
the individual output from each well, but we can assume
through the visual oil cut that most of the 30 BOPD is
from our discovery well GB-15. After weeks of
encountering the virgin down hole pressure to
efficiently produce oil and maintain, the gas drive has
been achieved. We anticipate wells GB-17, 18, and 21
will eventually accomplish these same results," Mr.
Sanford said.
"The wells previously mentioned pale in comparison to
the electric logs recorded in GB-19. Rex Horning Well
Service has scheduled to install the production string
and put this well on pump by early March. The Company
strongly believes that this well is in the center of the
channel in the Redd Sand formation or possibly in the
southwest portion. We will prove this by drilling well
#20 which has been staked and authorized by the Kansas
Corporation Commission to be drilled," Allenergy's CEO
said.
"The Company is reluctant to conclusively report the
natural gas production from these wells as it has
fluctuated from 210 mcfd to 30 mcfd during the process
of maximizing oil production and maintaining the gas
drive. We feel confident in realizing an 85 mcfd to 110
mcfd," Mr. Sanford said.
"Our newly discovered oil and gas field has been a slow
and meticulous process but has added an additional 900
BOPM, not including natural gas production to the
reported 2000 BOPM. As the remaining wells follow the
same process as GB-15 the Company will update these
figures along with the production numbers from GB-19 and
the Shallow test well Ball#1. We are convinced that we
will surpass the first quarter goals," Allenergy's CEO
said.
About Allenergy: Allenergy, Inc. (OTC: ALRY) is
strategically focused on areas of Kansas and Oklahoma
believed to contain more than 1.5 trillion cubic feet of
natural gas and helium at shallow depths. The Company
currently holds approximately 7,000 acres of leased land
with more than 150 oil and gas wells on its producing
properties.
For more information about the Company, please visit
http://www.allenergyinc.com
Note: Certain statements in this news release may
contain "forward looking" information within the meaning
of rule 175 under the Securities Act of 1933 and Rule
3b-6 under the Securities Act of 1934 and are subject to
the safe harbor created by those rules. All statements,
other than statements of fact, included in this release,
may include forward-looking statements that involve
risks and uncertainties. There can be no assurance that
such statements will be accurate and actual results and
future events could differ materially from those
anticipated in such statements.
Contacts: J.C. Friend at jcallenergy@aol.com
Allenergy, Inc.: 877-277-8171.
E&E Communications Paul Knopick, (949) 707-5365
pknopick@eandecommunications.com
SOURCE Allenergy, Inc.
URL: http://www.allenergyinc.com
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