Allied Energy Corporation Signs Partnership Agreement on Green Lease Project [Yahoo! Finance]
ALLIED ENERGY CORP (AGYP)
Company Research
Source: Yahoo! Finance
Agreement with Petroloro LLC and ORO Energy LLC, collectively known as P&O Energy, to advance the Green Lease project. Under this Partnership Agreement, P&O Energy will undertake the operation of the Project by initiating a comprehensive workover program on the M1 and X3 Wells. The objective of this workover is to optimize production from these Wells to their full potential. P&O Energy assumes sole responsibility for the expenses associated with the workover, and revenues generated will be equitably split on a 50/50 basis. Additionally, the Partnership Agreement outlines the development of further Wells within the Project area. P&O Energy has committed to drilling two additional Wells in the year 2024. The initial drilling location has been identified, and pending the successful acquisition of permits, Allied Energy will transfer the Project land to P&O Energy. It is important to note that Allied Energy retains a 5% Overriding Royalty Interest (ORRI) in the Project lands and all n
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News
- Allied Energy Corporation provides update on their Bitcoin Mining Joint-Venture Project [Yahoo! Finance]Yahoo! Finance
- Allied Energy Corporation provides update on their Bitcoin Mining Joint-Venture ProjectGlobeNewswire
- Allied Energy Corporation Signs Partnership Agreement on Green Lease ProjectGlobeNewswire