SOURCE: Allied Energy, Inc.

January 18, 2011 16:58 ET

Allied Energy, Inc. Appoints Auditor

BOWLING GREEN, KY--(Marketwire - January 18, 2011) - Allied Energy, Inc. (PINKSHEETS: AGGI) today announced that it has engaged Moody, Famiglietti & Andronico, LLP, of Tewksbury, MA, a Public Company Accounting Oversight Board member firm (www.pcaobus.org), to act as auditor to the Company and to audit its financial statements for year-end 2010.

The hiring coincides with the Company's plan to become a fully reporting company with the SEC under the Securities Exchange Act of 1934 during 2011 and for its shares to be traded on the NASD Over-The-Counter Bulletin Board (OTCBB).

Steve Stengell, Allied's Chief Executive Officer, stated, "We are in the process of implementing a corporate governance standards program that is consistent with public company standards in anticipation of becoming a fully reporting company. Engaging Moody, Famiglietti & Andronico, LLP, a firm with significant public company auditing experience, is a positive step in meeting the standards that we have set for the Company."

Through its wholly-owned subsidiaries, Allied Operating Oklahoma LLC and Allied Operating Texas LLC, and its majority-owned subsidiary, Allied Gas Transmission, Inc. Allied Energy, Inc. operates its oil and natural gas properties in both Texas and Oklahoma.

Allied Energy, Inc. is an independent oil and natural gas developer primarily engaged in the exploration, development, and production of oil and natural gas in the continental United States. The Company relies upon its strategic industry partners, subsidiaries, geologists, petroleum engineers, and other operational personnel whose combined industry experience is essential to each project. Allied Energy's strategic focus is the development of oil and natural gas reserves.

For further information about the Company, please visit our website at www.alliedenergy.com

Safe Harbor: Statements in this press release regarding matters other than historical facts may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements should be considered to be subject to the safe harbors created by those statutes and underlying regulations. The Company is a development stage company that continues to be dependent upon outside capital to sustain its existence. Since forward-looking statements involve risks and uncertainties and are subject to change at anytime, the Company's actual results may differ materially from expected results.

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