This morning Allied Energy Corp (OTCMKTS:AGYP) has come on to focus among investors after the company made a significant new announcement.
The company, which is mainly involved in the leasing and reworking of oil and gas regions in the more prolific hydrocarbon areas in the United States, announced that it had gone into a formal gas off-take agreement with the Midland, Texas-based firm Sloan Petroleum. It is part of the company’s current efforts with Enerhash to get a 20 MW flare gas Bitcoin mining project online in its entirety. The agreement with Sloan Petroleum would provide the company with access to natural gas wells with high MSF to its resources.
The partnership with Sloan would be the main solution for natural gas wells for the company as it seeks to complete the 20 MW Bitcoin mining project. More importantly, Sloan also boasts of enough resources to support the expansion of the mining project to a 100 MW one, which is the eventual target of Allied Energy. George Montieth, the Chief Executive Officer of the company stated at the time that he was thrilled at having tied up the agreement with Sloan.