The Allied Energy Corporation (OTCMKTS:AGYP) stock has been one of the major movers in recent days and emerged as one of the notable gainers in the week so far. Over the course of the week so far, the stock has gone up by as much as 38%, and considering such impressive gains, investors ought to take a closer look at some of the key developments.

This morning the company issued a press release stating that it is now waiting for Texas Railroad Corporation to accept its bond and then activate the P 5 permit that has already been awarded. In addiction to this news, Allied Energy also announced that Oil Cat Energy Services is going to work on the filing of the requisite Underground Injection Permit.

Moreover, The company regularly posts Twitter updates with regards to the latest happenings, and earlier this week it sent out a tweet that might have excited investors. Earlier this week on April 13 the company announced that the Texas Railroad Corporation provided it with the P4 and P5 approvals.

It signifies that the company is now both bonded and completely licensed to start oil-producing activities in the state of Texas. However, in this regard, it is necessary to add that Allied Energy had already received approval from the Texas Railroad Corporation for its P 5 application back on March 24 and had made an announcement to that effect on its Twitter account on the same day. At the time, Allied Energy stated that it was an important step in its efforts to boost oil production in the state. The news about the application had also been tweeted out by the company back on March 19.

While these are important developments for Allied Energy, it also suggests that investors could consider keeping an eye on the company’s Twitter account from now on. Allied Energy often provided vital information about the latest developments on that platform.

Neither PSN nor its owners, members, officers, directors, partners, consultants, nor anyone involved in the publication of this website, is a registered investment adviser or broker-dealer or associated person with a registered investment adviser or broker-dealer and none of the foregoing make any recommendation that the purchase or sale of securities of any company profiled in the PSN website is suitable or advisable for any person or that an investment or transaction in such securities will be profitable. The information contained in the PSN website is not intended to be, and shall not constitute, an offer to sell nor the solicitation of any offer to buy any security. The information presented in the PSN website is provided for informational purposes only and is not to be treated as advice or a recommendation to make any specific investment. Please consult with an independent investment adviser and qualified investment professional before making an investment decision.