AllEnergy strikes oil in Belize
Monday, June 18, 2012 1:41 PM
AllEnergy Corp., a Johnston-based international energy company, has reported that its initial acquisition of an oil field in Belize has been very positive.
Dean Sukowatey, president and CEO of AllEnergy, said the company has struck oil on a 2 million-acre parcel of which it owns 4 percent. Initial results show the well has about 6 million barrels of recoverable oil.
AllEnergy has the option to purchase up to 15 percent of an additional 1 million acres, according to a release.