AGYP - Allied Energy acquires 80% revenue interest in multiple northern Texas oil wells

Allied Energy (AGYP) has signed the final agreement contract with Energy Management Resources, LLC and has acquired an 80% stake in an initial two northern Texas oil wells identified as the "Palo Pinto #1" and "Palo Pinto #2" wells.Allied Energy's land position will allow the company to develop up to ten additional wells in the surrounding Baylor County Texas area known locally as the "Green Lease." The acquisition was completed through a non-dilutive, all-cash purchase and immediately adds significant value to Allied's bottom line as a new asset on the books.

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Allied Energy acquires 80% revenue interest in multiple northern Texas oil wells