Allenergy Announces Over 300% Revenue
Growth in First Seven Months of 2007
INDEPENDENCE, Kan., Aug 21, 2007 /PRNewswire-FirstCall
via COMTEX/ -- Allenergy, Inc. (OTC: ALRY - News), 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 more
than 300% growth in year over year revenues for the
first seven months of 2007.
The increase in revenues has been driven
by greater production, higher oil prices, and the
acquisition of Rex Horning Well Services. Allenergy
expects an even greater exponential growth in revenues
in the future.
The massive flooding in Kansas prevented
most of the oil and gas production in the first 2 weeks
of July and, still, Allenergy was able to produce the
equivalent of approximately 1500 barrels. Because of the
higher prices of oil July's revenues were higher than
any other July in Company history.
Additionally, Allenergy has just put on
9 new wells on the recently acquired Bayless B lease and
8 new wells on the East Ball lease.
The Company has plans to perforate the
Redd Sand Formation on one well that is located on the
Ball Lease, which is one component of Allenergy's
Project Four located in Chautauqua County, Kansas. A
geologist has told the Company this is the most
attractive play in this area. The well is located on the
top of the Longton Anticline. The logs calculate 40 feet
of sand which could be the Company's biggest producer
and open up a new unproduced field. Extensive road work
has been completed and the perforation process is
scheduled for August 28th.
Larry Sanford CEO of Allenergy said that
"it appears that August will be our biggest month yet,
as we have been afforded good weather and are busy
putting on additional production. We look forward to
sharing other significant developments with our
shareholders."
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.
Allenergy, Inc.: 877-277-8171
SOURCE Allenergy, Inc.
CONTACT:+1-877-277-8171 or Paul Knopick of E&E Communications, +1-949-707-5365,
pknopick@eandecommunications.com, for
Allenergy, Inc.
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