Published:
Allenergy Inc. Says Rex Horning Well Service Both Saves It Money and Allows for More Efficient Completion of New Wells and Reworking of Others
INDEPENDENCE, Kan., May 20 /PRNewswire-FirstCall/ -- Allenergy, Inc.
(OTC: ALRY), with a 17-year history in the oil and gas industry and current
involvement in the multi-billion dollar natural gas fields inKansas and
Oklahoma, is pleased to announce a savings of $271,000, that otherwise would
have been spent with outside contractors, due to the work of Rex Horning Well
Service, which Allenergy purchased in April 2007.
"We purchased Rex Horning Well Service to add additional revenues to the
Company and reduce the waiting period on outside contractors scheduling. As
the price of oil continues upwards, the decision was made to initiate our
drilling campaign and well workover sooner than planned. In the best interest
of the Company, RHWS concentrated all its efforts for reworking wells and the
completion of new wells," said Larry Sanford, President.
"Having Rex Horning as part of Allenergy has meant that newly drilled
wells were completed to production stage in a timely fashion without any down
time waiting on outside contractors. The dry season here is nearing and we
have plans to take advantage of this opportunity to increase production from
existing wells and continue our drilling campaign," Mr. Sanford said.
"The well servicing is just one of many benefits the Company reaped by
having its own workover rigs. Allenergy and RHWS employees joined forces to
complete the numerous tasks it takes to get the production ready for sale.
Over four miles of flow line was installed on the Longton Anticline to
transport oil and gas to the tank battery so the product could be sold. The
welding, electrical work, plumbing and excavating was all done in house by our
combined experienced work force," Allenergy's President said.
The Company has recently released one workover rig to service the clients
of RHWS, but will retain sufficient equipment to continue the remedial work on
sixty plus wells that need to be put in production.
About Allenergy: Allenergy, Inc. (OTC: ALRY) is strategically focused on
areas ofKansas andOklahoma believed to contain more than 1.5 trillion cubic
feet of natural gas and helium at shallow depths. The Company 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.
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