Allied Energy, Inc.'s (Pink Sheets: AGGI) wholly owned subsidiary, Allied Operating Texas, LLC, has built 2.2 miles of road and the drill-site location to prepare the drilling of its initial horizontal test location in the historic "Giddings Field Area" of East Texas.
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The proposed location is a direct PUD, Proved Undeveloped, offset location to the Apache Corporation Butaud #1 Well in Grimes County, Texas. The Butaud #1 Well was completed in March, 2009 and tested and reported at 4,833 MCFD of gas and 30 BCPD. The Butaud #1 continues production from a single lateral at an estimated and reported daily rate of approximately 2,500 MCFD of gas and 30 BC.
Allied Energy, Inc. (PINKSHEETS: AGGI) is an independent oil and natural gas company primarily engaged in the exploration, development, and production of oil and natural gas in the continental United States.
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