AllEnergy Announces It Has Elected to Participate in the Mahalec Lease With Potential Gross Reserves of 3.6 Million Barrels of
June 25, 2012 06:46 ET
AllEnergy Announces It Has Elected to Participate in the Mahalec Lease With Potential Gross Reserves of 3.6 Million Barrels of Oil and 6 BCF of Gas or $302,000,000
DES MOINES, IA--(Marketwire - Jun 25, 2012) - AllEnergy Corporation (
Dean Sukowatey, President and CEO of AllEnergy Corporation, stated, "There are three targets in each well. The targets are 3800 ft. Frio Sand, 5500 ft. Yegua Sand, and 8100 ft. Wilcox Sand. This is a great addition for AllEnergy."
About AllEnergy Corporation
AllEnergy, an international energy company, is engaged in the acquisition, development and production of oil and natural gas. AllEnergy acquires and develops oil and gas leases which have "proven but undeveloped reserves" at the time of acquisition. These properties are not strategic to large exploration-oriented oil and gas companies. This strategy allows AllEnergy to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration.