SOURCE: Allied Energy, Inc.

June 09, 2008 09:30 ET

Allied Energy Acquires Additional Interest in Rogers County, Oklahoma

BOWLING GREEN, KY--(Marketwire - June 9, 2008) - Allied Energy, Inc. (PINKSHEETS: AGGI) announced today that it is currently finalizing plans to acquire an additional 15% working interest ownership in its 2,000 +/- acre lease near the town of Talala, Oklahoma.

"This acquisition is key in that it provides Allied Energy with 100% working interest ownership in the property and fits perfectly with our long-term plans to further development this area," said Steve Stengell, Allied's Vice President of Business Development.

The Company has approximately 6,000 acres under lease, more than 60 wells under development and continues to build its own gas line infrastructure system in Rogers County to maximize its price for gas at the wellhead.

About Allied Energy

Allied Energy, 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 industry partners, well operators, geologists, petroleum engineers, and financial analysts whose combined industry experience is essential to the success of each project. Allied Energy'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 including but not limited to geological and geophysical risks inherent to the oil and gas industry, 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 may have varying degrees of working interest ownership in each well and/or prospect. Thus, gross revenue projections may not be equal to what is distributed net to the Company. 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 inherent to the oil and gas industry.

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