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Allenergy Negotiating to Acquire Rex
Horning Well Services; Key New Revenue Source
Wednesday December 13, 5:28 am ET
COFFEYVILLE, Kan., Dec. 13 /PRNewswire-FirstCall/
-- 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, announced today that
negotiations are in place to acquire Rex Horning Well
Services (RHWS), LLC of Independence, Kansas.
RHWS is an energy services firm
operating in Southeastern Kansas and Northeastern
Oklahoma. Several of Allenergy's existing oil and gas
properties and holdings are also in Montgomery County,
Southeastern Kansas.
"This acquisition is essential for two
reasons," said Company President Larry Sanford. "It
would eliminate a three-to-four week waiting period for
service work that alters our production scheduling and
most importantly impacts the Company's revenue.
Secondly, it will generate another avenue for additional
income through the vital services such as providing
pulling units, trenchers, backhoe and general roustabout
services."
"Well service scheduling has been a
continual problem for the oil and gas industry," Sanford
stated. "With experienced staff, in both Allenergy and
RHWS, Allenergy can now create an opportunity from this
problem and focus on capturing the revenue that is so
readily available on the services side of the industry."
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:
Allenergy, Inc.: 877-277-8171
E&E Communications Paul Knopick, (949)
707-5365
pknopick@eandecommunications.com
Source: Allenergy, Inc. |
