SOURCE: Allied Energy Group, Inc.

November 17, 2006 09:20 ET

Allied Energy Group, Inc. Receives $1.85 Mid-Term Target Price

Market Advisors Research: "Fundamental Analysis for Today's Investments"

BOWLING GREEN, KY -- (MARKET WIRE) -- November 17, 2006 -- Allied Energy Group, Inc. (PINKSHEETS: AGGI)

Stock Symbol-                AGGI.PK
Shares-                      56,500,000
Market Cap-                  $33,900,000
Recent Price-                $0.69
Mid-Term Price-              $1.85
Web Site-                    www.alliedenergy.com
Phone-                       800-330-2535
Investment Highlights
--  Allied Energy Group has projects on prime land positions in the
    world's most profound oil & gas resources -- and both are protected right
    here in the United States.
    
--  Over 100 years of combined oil and gas experience, extensive research
    into the dynamics of how competing companies have previously developed
    programs for the financial services industry, and a concise understanding
    of today's oil and gas marketplace are the foundations of Allied's success.
    
--  The company enjoys strategic partnerships with solid companies that
    bring a higher standard of performance to each and every project AGGI is
    involved in.
    
Allied Energy Group is a publicly traded independent energy development firm formed in 2003, headquartered in Bowling Green, Kentucky. AGGI's primary activity is the exploration, development, and production of oil and natural gas in the continental United States. The company is focused on making a major oil or gas discovery by utilizing its proven industry track record, business experience, and management expertise of each individual Management and Advisory Committee member to acquire proven oil and gas properties and sponsor an international energy fund. The company has plans to continue minimizing and spreading financial risk by joint venturing in its oil exploration projects with other companies. An example of this is the recent partnership announcement with Halliburton Operating Company. This joint venture outlines plans to drill an additional 6,000' +/- vertical well to test the Strawn Limestone in Schleicher County, Texas. Securing this package in the heart of Texas' immense petroleum belt, Allied Energy is ideally positioned to return substantial profits to its investors. Already we are in a prolonged cycle of higher energy prices that should last at least to the end of this decade, and probably a lot longer.

Strong Oil and Gas Demand

Allied Energy's future discoveries and very positive properties place it in an excellent position to benefit from current demand for oil and gas. Experts have estimated that 85% of the world's known oil reserves were discovered more than 20 years ago. At the start of this decade, there were about 20 large discoveries. Yet in 2003, for example, there were none. World oil consumption is currently outstripping new discoveries by a factor of 4-to-1; meaning 4 barrels of oil are disappearing for every one that's found. It's also no secret that the rest of the world is desperately trying to lock up as much as they can in a frenzied attempt to secure their economic futures as well. Even if their economies cool down significantly, countries in Asia are on track to become massive consumers of petroleum, rivaling the United States. Recent reports indicate that China has already jumped into the position of the world's number two oil importer, displacing Japan. With the ever present turmoil and war in the Middle East, we can expect further disruptions and subsequent risks to world oil supplies. Allied Energy is in the midst of extensive oil and gas drill programs on several exploration targets with world-class potential for size and is funded to complete these programs. Success in any one of them could be a company maker, and major discoveries on two would be phenomenal.

We feel the upside potential related to its properties in Texas and Oklahoma should result in a higher trading multiple versus other industry competition. We expect Allied Energy to emerge as an active player, as we believe this company has the combination of quality assets and strong management that tends to exceed expectations. Allied energy has already established key relationships with experienced geologists, geophysicists and engineers in the gulf coast regions of Texas and Louisiana. If the company can generate significant cash flow from operations, the stock could test its 52-week high.

ANALYST -- Officers of Market Advisors, Inc. have been in business since 1983 and have provided stock market research for their clients since 1985. Company officials have been frequently quoted in a wide array of financial publications such as the Wall Street Journal, Investors Business Daily, Barron's, The Dick Davis Digest, Moniresearch and many others. We have on staff the former editor of the Marketarian Newsletter, a nationally syndicated stock market newsletter published over twenty years.

About Allied Energy Group

Allied Energy Group, Inc. (PINKSHEETS: AGGI) is an independent energy development firm primarily engaged in the exploration, development, and production of oil and natural gas in the continental United States. The company relies upon its geologists, petroleum engineers, seismic specialists, and financial analysts whose combined industry experience is essential to the success of each project. Allied Energy Group's strategic focus is the development of oil and natural gas reserves. As the fuel of choice to meet the growing demand for a clean-burning domestically produced fuel, the company firmly believes its natural gas exploration strategy should provide substantial growth to the company for the years to come.

For more information: www.alliedenergy.com

Certain statements in this release and the attached corporate profile that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.

The information and opinions in this analyst report were prepared by Market Advisors, Inc. (located in Nebraska) who does receive fees for services including preparation of this report. For this report, officers of Market Advisors, Inc. received $3,500 from Starr Consulting. This is not an offer to buy or sell securities nor should this report be construed as investment advice. Information or statements are subject to numerous risks and uncertainties that cause such statements not to prove accurate. Market Advisors, Inc. does not disseminate, nor is it liable for the dissemination by any third party of this analyst report.

Contact Information