Allenergy Drills Three New Wells in January
Allenergy, Inc. said it is proud to report that it has completed the drilling of the third new well in the month of January. "We have drilled five of the fifteen wells of our drilling campaign with a 100% success rate and are more than pleased with the initial results," said Larry Sanford, President.
The first well drilled in January was G4-21 with pipe set in the Weiser Sand. Open hole logs showed excellent porosity in both the Redd and Weiser formations. G4-21 has been perforated, acidized and sand fraced and is ready for production equipment to be installed.
The second well drilled was the G4-19 also drilled to the Weiser Sand. The open hole logs in the Weiser appeared not to be as productive compared to the logs from our other new wells. However, the Redd Sand showed considerably better porosity than Allenergy's discovery well G4-15 660 feet to the Northeast. While drilling this well the Company encountered oil in the pits and samples saturated with oil. Mr. Luther Park, consultant, said that "this well shows that we are near or in the middle of the Redd Sand channel. Well # G4-20, when drilled, should prove this theory."
Plans are to perforate G4-21 and the Ball #1 test well will begin in February.
Well Ball #1 test well is the third well drilled in January. The previous four wells drilled showed in the logs a shallow gas zone with excellent porosity and no water. This could be the upper Layton as found in the Moore TM-1 well located in the Dark Treasures project but has not been identified as such. Ball #1 was drilled in between G4-17 and G4-21 where the best porosity showed on the logs.
Allenergy is currently interviewing people with experience to ensure that the Company's projections are obtained and possibly exceeded. "The revenue derived from Allenergy's aggressive drilling campaign will in part, expand our business plan that we have been following closely since 2005," Mr. Sanford said.
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