halbergman
- Oil and gas company Allied Energy (OTCPK:AGYP) has acquired Thiel Lease and Well.
- The Thiel Well, located near Brenham Texas, was drilled by Union Pacific Resources in 1996. Most recently, it was operated by Jenex Petroleum. However, the Thiel Well is currently shut due to a leak in the flowline and the former operator's unwillingness to repair due to potential high costs.
- AGYP has determined that the Thiel adds significant value to its corporate holdings and expands on the company's increasing interests in natural gas resources.
- The company said it was seeking additional capital to add more leases like the Thiel.
- Source: Press Release