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Allenergy, Inc. Announces Record
Kansas Crude Oil Prices; Recent Sales at $134.50/Barrel
INDEPENDENCE, Kan., July 10, 2008 /PRNewswire-FirstCall
via COMTEX/ -- Allenergy, Inc. (Pink Sheets: ALRY), an
independent oil and gas producer focused on Southeastern
Kansas, today announced oil sales for the second quarter
averaging $113/barrel.
This is an increase of $59/barrel from the second
quarter of 2007. Sales per barrel of Kansas Crude have
steadily increased with the international price of oil
with the most recent sale being $134.50/barrel.
"We are very fortunate to be in the middle of the
largest wave of oil price increases in history," said
Larry Sanford, CEO and President of Allenergy. "With
many of our costs being fixed, we are able to achieve a
greater profit margin with these recent increases. This
will translate into more wells drilled and a direct
increase in shareholder value," he continued. "With our
new Bane Lease coming on line, we are poised for major
growth in both barrels produced and revenue generated,"
Mr. Sanford concluded.
About Allenergy: Allenergy, Inc. (Pink Sheets: ALRY -
News) is an independent energy company strategically
focused on Southeastern Kansas where it currently holds
approximately 4,740 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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Copyright (C) 2008 PR Newswire. All rights reserved
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