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"We have a virgin pressure, free flowing gas well" 4/12/2007 COFFEYVILLE, Kan., April 12, 2007
Allenergy, Inc. (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 significant, unexpected results of the perforation job on the Dark Treasures Moore TM-1 well located in Chautauqua County, Kansas.
As previously announced, the Company's plans were to perforate the Layton formation and follow with a spot acid job to stimulate the formation. Allenergy shot the Layton at the exact footage that was planned and the procedure was normal, except for one thing, gas came to the surface. For safety reasons, the Company had a 4" x 2" swage, a valve and a 160# gauge on hand to quickly contain the well. After the containment, the 160# gauge was at its maximum.
"This is a huge occurrence," said Larry Sanford, Allenergy President. "We have a virgin pressure, free flowing gas well. We should be selling gas as early as today, after everything is properly installed, including a back pressure valve that will hold back 100PSI on the formation to prevent the migration of water in the casing. Production numbers will follow as soon as the Company is comfortable with the flow rate to maintain the longevity of the well.
"From the onset, our strategic plan was to amass as much acreage as possible around the Longton Anticline. As of today, we control over 2000 acres in this area with ample space for drilling," Mr. Sanford said. "This exciting discovery well will advance the short term revenue results and position the Company in a more rapid growth rate."
About Allenergy: Allenergy, Inc. (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 5,500 acres of leased land with over 100 oil and gas wells on its producing properties. For more information about the Company, please visit 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
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