ALLIED ENERGY CORP - AGYP STOCK NEWS

Allied Energy , in partnership with Enegix Global, has made significant progress in their Bitcoin mining project in Brenham, Texas. The construction has started, with a focus on optimizing power production using natural gas. The upcoming beta test will fine-tune operations and address potential challenges, paving the way for future efficiency. CEO George Monteith is confident in the partnership's value creation for shareholders.

Allied Energy Corporation (AGYP) partners with Petroloro LLC and ORO Energy LLC to advance the Green Lease project, focusing on optimizing production from M1 and X3 Wells. The partnership involves a 50/50 revenue split, commitment to drilling two additional Wells in 2024, and the retention of a 5% Overriding Royalty Interest by Allied Energy. The strategic vision includes potential drilling of up to 8 additional Wells in the future.

Allied Energy Corp (OTC PINK:AGYP) has signed a Memorandum of Understanding (MOU) with Enerhash USA LLC and River Energy Group LLC to explore using stranded and flare gas resources for Bitcoin mining and data centers in the U.S. The plan involves an initial 1 MW site, with a goal to expand to 100 MW. The partnership aims to monetize natural gas resources, reduce methane emissions, and integrate carbon capture technology in energy projects. This collaboration is seen as a significant step towards delivering environmental and financial benefits.

Allied Energy Corp (OTC Pink: AGYP) has entered into a strategic joint venture with WalkerGreen Tech LLC to leverage oil and gas resources and expand into the cryptocurrency sector. This collaboration aims to utilize stranded natural gas for bitcoin mining and develop off-grid microgrid power solutions. The partnership will conduct a 3-month beta test to explore the feasibility of utilizing flare-off gas for energy production. WGT has appointed two new advisors to enhance its strategic capabilities in sustainable energy and the cryptocurrency industry.

Allied Energy Corp (OTC Pink: AGYP) announced a strategic joint venture with River Energy Group, LLC, aimed at enhancing oil and gas resource development. The partnership focuses on securing stranded and flared natural gas for creating independent microgrids, which will deliver low-cost, clean energy. River Energy Group's leadership boasts over 90 years of experience in the energy sector. CEO George Montieth expressed optimism about the venture's potential to elevate Allied's corporate standing and future expansion plans.

Allied Energy Corp (AGYP) has provided a shareholder update following its acquisition of the Thiel Lease in Washington County, Texas. Fesco Petroleum Engineers conducted tests revealing a production rate of over 800 MCF of natural gas per day, aligning with historical data from Jenex Petroleum, which showed around 880 MCF daily. The company plans to capitalize on this natural gas output. Efforts to enhance the Prometheus Well 1-H included repairs to improve production reliability. Allied focuses on leveraging existing oil and gas reserves in the U.S. to maximize its growth potential.

Allied Energy Corp (OTC Pink: AGYP) has announced the acquisition of the Thiel Lease and Well, expanding its natural gas holdings in Texas. The Thiel Well, drilled in 1996, previously reported a flow rate of 44 million cubic feet of natural gas per day. Currently shut in due to a leak, Allied's assessment indicates significant potential value from this asset. CEO George Montieth expressed confidence in the future of natural gas and the company's intention to increase its portfolio. Rising global demand for natural gas, exacerbated by geopolitical tensions, presents a favorable market backdrop for Allied's expansion efforts.

Allied Energy Corp (OTC Pink: AGYP) announces the retirement of 2,480,000 unrestricted common shares, marking a 4% reduction in its authorized shares. This change will be reflected on the OTCMarkets' Security Details tab. CEO George Montieth emphasized that this move is part of an ongoing strategy to enhance shareholder value, as the company's share structure had remained unchanged for over a year. The company has also expressed intentions to keep shareholders updated about share structure changes and expanding oil production efforts.

Allied Energy Corp (AGYP), based in Carrollton, Texas, has reported the successful sale of eight loads of oil from its Green and Prometheus Leases in April 2022. CEO George Montieth indicates ongoing efforts to increase production, particularly from three wells on these leases, with further improvements expected in May. The company is also focusing on its Gilmer Lease, where three re-completed wells await power installation. Due to high electrical costs, Allied is considering diesel generators as a temporary solution. The press release highlights robust future production potential and strategic growth plans.