Allied Energy Corporation (OTCMKTS: AGYP) may be a $1+ million annualized oil and gas producer now, according to our analysis. AGYP released a 2022 progress report on its well sites. Two of six oil producing sites show an extrapolated production yearly performance worth $1 million, potentially more.

Investors should add AGYP stock to their Watch Lists as this company pumps oil from domestic locations in Texas.

PRODUCTION AT ANNIE GILMER AND PROMETHEUS SITES

At its Annie Gilmer and Prometheus leased sites, AGYP is enthusiastic about its energy production:

-At Annie Gilmer site, AGYP's pumps are producing between 160 and 300 barrels of total fluids daily. They have a 2.5-5% oil cut. A newer and more powerful electrical submersible pump (ESP) is designed to handle 1,500 barrels of fluid daily. At a 2.5% oil cut, that's 37.5 barrels daily or 13,687.5 barrels annually. At a $80 price per barrel, that's $1,095,000 annually.

-At a 5% price cut, even higher prices result. This cut would mean 75 barrels daily. At $80 per barrel, annualized value would reach $2,190,000.

-Annie Gilmer oil production could grow higher as AGYP is in talks with Tri-County to set up 3-phase/200 amp service and add the ESP electrical pumps.

-At its Prometheus lease Well 1H, AGYP is pumping more. AGYP is pumping 2,000 to 2,400 barrels of fluid daily. At the same cut of 2.5%, it is pumping 50 barrels of oil daily. Using a $80 oil price for our projection, that gives AGYP $4,000 daily. Annually, it would translate into $1,460,000.

OIL CUTS AND PRICES PER BARREL ADD UP TO OVER $1MM

No matter how you extrapolate the numbers, AGYP is performing at the $1+ million annualized level. And this is at only two of the six wells where the Company has hit oil.

AGYP is a company that specializes in making older, abandoned and proven wells commercial again. It is still exploring for more oil and has identified numerous more leased sites where it can explore for oil and gas in the future.

AGYP SELLS OIL LOADS Q4 '21, 'REAL POTENTIAL' IN '22

In Q4 2021, AGYP sold three loads of oil from its Prometheus lease site. Each load consists of 160-170 barrels of oil. The company says, in 2022, it looks forward to more energy production from the site.

George Montieth, CEO, stated, "Yes, 2021 was a foundational year for Allied in which the company successfully achieved initial production at three of our lease sites."

'BARELY SCRATCHED THE SURFACE'

He added, "We now go into 2022 as a producing oil company that is selling oil to our contracted agent. Our initial production numbers have barely scratched the surface of the real potential of Allied's six existing well projects."

He said that Allied is a producing all-American oil company that is in the 'right place at the right time in history.'

Keep AGYP stock on your Watch List as energy stocks are jumping in value as oil prices boom and energy exploring is profitable.

Link to more news are at https://alliedengycorp.com/ and https://twitter.com/AlliedEnergyCo1

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