SOURCE: Allied Energy Group, Inc.

December 22, 2006 16:00 ET

Allied Energy Group, Inc. Announces "Record Turnout" at Christmas for Kids Event

BOWLING GREEN, KY -- (MARKET WIRE) -- December 22, 2006 -- Allied Energy Group, Inc. (PINKSHEETS: AGGI) participated as the senior sponsor in the Bowling Green Warren County Jaycees' Christmas for Kids event.

"The Bowling Green Warren County Jaycees Christmas for Kids shopping tour event reported a record turnout for both volunteers and children. This very important two-day event benefited 82 needy children in the Bowling Green area including 70 children from the Head Start organization and 12 children from the Boy's Group Home," said Tara Griffith, Project Chairman for the event. "We hope to see this event grow each and every year in Bowling Green," added Griffith.

This year's event was held on December 9th and 16th at Wal-Mart on Campbell Lane in Bowling Green, Kentucky. Volunteers, including Allied Energy Group, Inc. employees, members of the Jaycees, and other sponsors, escorted the children individually through the store while allowing them to select toys, clothes and other items.

Many of the volunteers contributed their own money above that of the budgeted amount for each child. "This type of giving just goes to show you how much growing support this event has in Bowling Green," said Steve Stengell, Allied's Sr. Vice President of Operations.

The Jaycees is a nationwide volunteer group of young business people who devote their time to local community improvement and charitable projects.

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.

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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.

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