Allied Energy Corporation (OTCMKTS: AGYP) saw the price of global oil jump as Russia invades Ukraine, this on the same day it announces it has retained securities counsel for uplisting and setting a share buyback program for common shares.

AGYP Is An Independent Texas Driller Seeking Up List

AGYP on a major news day as Russia invades Ukraine, sees oil hit and fall back from $100 per barrel. It also announced it has retained securities counsel as it seeks an up list to a recognized North American exchange, excluding the U.S. OTC markets.

Counsel will also advise AGYP on establishing an ongoing share buyback program of AGYP's common stock.

Keep AGYP stock on your Watch List as energy stocks are jumping in value as more rigs from independents make energy exploring and producing profitable. As World News breaks, domestic-sourced oil is more sought-after than ever before.

Three Major Reasons For The Move

- AGYP is seeking to position itself in the most attractive way possible. It wants to achieve real growth that adds value to the corporate bottom line. Securities counsel retained has extensive experience in companies raising their securities from lower to higher exchanges. It also has achieved dual-listings for numerous companies on exchanges such as Canadian TSX or the Frankfurt Stock Exchange.

- The Company believes that by up listing AGYP will achieve more visibility on an international platform. AGYP believes that as oil continues to increase in price, there is potential for more investors to look towards the oil and gas sector. For AGYP, up listing will mean more visibility around the world will be seen as a positive.

- Council is also retained to advise AGYP on establishing an ongoing share buyback program. The Company seeks to reduce the size of its public float by buying back shares on the public market. Acquisitions through private transactions will also be considered. More details on the share buyback program will be forthcoming.

AGYP CEO Montieth, Says Moves Will Benefit Company, Shareholders

George Montieth, CEO of AGYP, says, "Now that Allied has moved from exploration status to production and oil sales, management believes it is time to initiate the move to a higher tier exchange and institute a share-buyback program.

"We feel these initiatives will benefit both the Company and our shareholders by building real value now and in the future. I look forward to elaborating on material events as they take fruition."

AGYP specializes in exploring, drilling and pumping oil successfully. It is managed by an experienced oil and gas team.

Documenting its success, AGYP's January 2022 oil production totals by the Texas Railroad Commission at webs.rcc.texas.gov./PDQ/home.do

AGYP Sells Some 500 Barrels Of Oil From Prometheus Well

AGYP earlier announced in a Tweet that it has sold three loads of 160-170 barrels of oil so far in January from its Prometheus lease. AGYP continues to monitor production from its Well 1H in that location with the goal of increasing production from that Well.

Oil prices topped $100 per barrel before WTI and Brent Crude settled slightly lower. At $95 barrel, that's 510 barrels at almost $5,000 in oil in January from one well alone. AGYP has hit oil at multiple well sites.

Keep AGYP on your Watch List as energy stocks are jumping in value as more rigs from independents make energy exploring and producing profitable.

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

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