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Allenergy, Inc. Releases Record
Financial Results for 2007
INDEPENDENCE, Kan., May 8, 2008 /PRNewswire-FirstCall
via COMTEX/ -- Allenergy, Inc. (Pink Sheets: ALRY), an
independent oil and gas producer focused on Southeastern
Kansas, is pleased to release its 2007 financial results
following another record-setting year under the
leadership of CEO Larry Sanford.
Revenues for the 12 months ended December 31, 2007
reached $1,480,559, nearly three times the 2006 figure
of $511,252. Profits in 2007 totaled $186,857 following
a loss of $808 in 2006. Since Mr. Sanford was named CEO
on February 1, 2005, Allenergy's revenues have increased
more than twenty-fold, from the 2004 total of $69,819.
Even more impressive is the reversal of $586,281 in
losses from 2004, culminating in 2007's record profits.
"We have laid the foundation over the past three years
at Allenergy to create an independent oil and gas
producer in Kansas committed to building shareholder
value," said CEO Sanford. "I'm pleased with our profits
after the earlier losses, but our balance sheet is in
even better shape," he continued.
In fact, Total Assets were up 26% to $2,590,312 in 2007
from $2,053,477 in 2006, and just $1,583,498 at the end
of 2004. Total Liabilities were reduced from $635,592 in
2006 to $351,982 in 2007. They stood at $874,814 in
2005.
"The financials for 2004 through 2007 will be available
at http://www.allenergyinc.com and http://www.pinksheets.com
so investors can see the tangible progress Allenergy has
made over the past several years," Mr. Sanford stated.
About Allenergy: Allenergy, Inc. (Pink Sheets: ALRY) is
an independent energy company strategically focused on
Southeastern Kansas where it 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
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