SOURCE: Allied Energy, Inc.

October 02, 2012 16:37 ET

Allied Energy, Inc. Announces New CFO

BOWLING GREEN, KY--(Marketwire - Oct 2, 2012) - ALLIED ENERGY, INC. (PINKSHEETS: AGGI) is pleased to announce the appointment of Kenneth L. Poskey as CFO of the Company.

Ken Poskey, who replaces interim CFO, Gene Kamarasy, will be in charge of all accounting, finance and compliance functions of the Company.

Ken brings to Allied over 25 years of experience in the finance and accounting industries and has extensive experience in various aspects of the oil and gas industry including audit, tax, financial accounting, project management, systems design and business development. He has designed reporting systems, improved division of interest functions for revenue and joint interest expense, sold gas on daily spot markets and built the customer base of a new pipeline transportation venture.

Ken was previously employed by the Company as a consultant to perform internal auditing and accounting services. Scott Harris, Allied's CEO, stated: "We are delighted to have Ken return to the Company as CFO. Ken has demonstrated exceptional accounting and financial skills and will be a strong and capable leader of our accounting and finance departments. As a result of Ken's previous tenure with the Company, his vast experience in the oil and gas industry, and his strong leadership qualities, we expect him to contribute very quickly to the vision and growth of the Company."

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