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Allenergy Inc. Says Rex Horning Well Service Both Saves
It Money and Allows for More Efficient Completion of New
Wells and Reworking of Others
INDEPENDENCE, Kan., May 20, 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, is pleased to announce a
savings of $271,000, that otherwise would have been
spent with outside contractors, due to the work of Rex
Horning Well Service, which Allenergy purchased in April
2007.
"We purchased Rex Horning Well Service to add additional
revenues to the Company and reduce the waiting period on
outside contractors scheduling. As the price of oil
continues upwards, the decision was made to initiate our
drilling campaign and well workover sooner than planned.
In the best interest of the Company, RHWS concentrated
all its efforts for reworking wells and the completion
of new wells," said Larry Sanford, President.
"Having Rex Horning as part of Allenergy has meant that
newly drilled wells were completed to production stage
in a timely fashion without any down time waiting on
outside contractors. The dry season here is nearing and
we have plans to take advantage of this opportunity to
increase production from existing wells and continue our
drilling campaign," Mr. Sanford said.
"The well servicing is just one of many benefits the
Company reaped by having its own workover rigs.
Allenergy and RHWS employees joined forces to complete
the numerous tasks it takes to get the production ready
for sale. Over four miles of flow line was installed on
the Longton Anticline to transport oil and gas to the
tank battery so the product could be sold. The welding,
electrical work, plumbing and excavating was all done in
house by our combined experienced work force,"
Allenergy's President said.
The Company has recently released one workover rig to
service the clients of RHWS, but will retain sufficient
equipment to continue the remedial work on sixty plus
wells that need to be put in production.
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 4,620 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: Larry Sanford
Lsanford2@aol.com
Allenergy, Inc.: 620/331-9992
E&E Communications Paul Knopick, (949) 707-5365
pknopick@eandecommunications.com
SOURCE Allenergy, Inc.
URL: http://www.allenergyinc.com
www.prnewswire.com
Copyright (C) 2008 PR Newswire. All rights reserved
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