APHE Stock Price, News & Analysis

Alpha Energy, Inc. (OTC Pink:APHE), based in Golden, Colorado, announced its operational results for Q3 2022, marking a significant milestone as the company transitions from a development stage to a functional hydrocarbon producer. The firm generated $144,139 in revenues from the sale of crude oil and gas during the nine months ending September 30, 2022. Alpha aims to leverage advanced recovery techniques to develop shallow oil and gas reserves, with plans to scale operations in the future. The company emphasizes its commitment to environmental standards and local community support.

Golden, Colo., June 13, 2022 – Alpha Energy, Inc. (OTC Pink – APHE) has completed its first sale of crude oil from recently acquired leases. This milestone comes just 2 ½ months after acquiring 5 producing and 26 additional leased wells. The sale marks the first revenue for Alpha, validating its strategy to develop recoverable oil and gas reserves. President Jay Leaver emphasized the significance of this achievement and outlined plans for reopening dormant producers and drilling new opportunities to boost cash flow amidst rising energy prices.

Alpha Energy, Inc. (OTC.PK - APHE) has announced a Purchase and Sale Agreement to acquire 28 oil and gas wells in the Mercury Project located in Seminole County, Oklahoma. The acquisition involves a cash transaction valued at $750,000, with Alpha paying $562,500 upfront. The company will operate the project, holding a 75% working interest, while a private entity retains a 25% non-operating stake. The project includes 24 production-capable wells and additional undeveloped land. This strategic acquisition is part of Alpha's efforts to expand its operational footprint and enhance production capabilities.

Alpha Energy, Inc. (OTC.PK - APHE) has completed the acquisition of 31 oil and gas assets in Oklahoma's Coral Project from Progressive Well Service, LLC for a total cash payment of $600,000, subject to adjustments. The project includes active and inactive wells on the Cherokee Uplift, with plans to bring inactive wells into production. The acquisition is aimed at enhancing Alpha's operational capacity and revenue potential, as indicated by an independent engineering report highlighting significant upside possibilities from existing wells. The transaction has an effective date of January 1, 2022.

Alpha Energy, Inc. (OTC.PK - APHE) announced the acquisition of 34 oil and gas assets in Oklahoma's Coral Project through a Purchase and Sale Agreement with Progressive Well Service, LLC. The transaction, valued at $600,000, includes a future payment of 3% of net revenue from new wells until an additional $350,000 is met. The Coral Project spans 2,080 acres with six active wells and aims to enhance Alpha's operations in north-central Oklahoma, providing cash flow and potential for new drilling amidst rising commodity prices.

Alpha Energy, Inc. (OTC.PK - APHE) announced that its subsidiary, Alpha Energy Texas Operating LLC, received Operator Status in Oklahoma on September 10, 2021, allowing it to operate oil and gas properties there. This status includes a $25,000 bond. Chairman John Lepin stated that this significant milestone enables operations under the Logan 1 Project agreement. The company aims to be grandfathered under new state regulations. Alpha Energy focuses on the acquisition, exploration, development, and production of crude oil and natural gas.