SOURCE: Allied Energy, Inc.

January 31, 2011 12:12 ET

Allied Energy Launches New Corporate Website

BOWLING GREEN, KY--(Marketwire - January 31, 2011) - Allied Energy, Inc. (PINKSHEETS: AGGI) announced today that the company has launched its new corporate website at www.alliedenergy.com.

Allied Energy, Inc. is an independent oil and natural gas operator engaged in the exploration, development, and production of oil and natural gas, primarily in Texas and Oklahoma. Through its wholly owned subsidiaries, Allied Operating Oklahoma LLC and Allied Operating Texas LLC, and its Allied Gas Transmission, a majority owned subsidiary, Allied Energy, Inc. operates its oil and natural gas properties. The company's strategic focus is the development of oil and natural gas reserves through the utilization of the latest technology related to horizontal drilling and production in Central-East Texas.

"We are confident that our new corporate website should better facilitate Allied's future growth, business model and plans to become a fully reporting company," said Steve Stengell, Allied's President and CEO.

To find out more about the company, its audited financial statements, management team, operations and other public information, please visit www.alliedenergy.com.

No assurances can be made as it relates to present or future production rates or estimated reserves for any given project. Tremendous risks and uncertainty are associated with oil and gas drilling, completion, development and production operations. It is impossible to accurately estimate future rates and/or declines in production operations for oil, condensate and natural gas. Oil and natural gas volumes are often reported in an equivalent amount of one or another petroleum product as determined by prices and volumes of the petroleum produced. Production volumes herein were reported from the wellhead via electric flow meters.

About Allied Energy

Allied Energy, Inc. (PINKSHEETS: AGGI) is an independent oil and natural gas operator and developer primarily engaged in the exploration, development, and production of oil and natural gas in the continental United States. The Company relies upon its confidential industry partners, well operators, 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.

Allied Energy has achieved the "Best of Bowling Green" award for the category of crude oil and natural gas production for the last two years and was recently chosen by an independent selection committee as the recipient for the Bowling Green "Outstanding Business of the Year" community impact award for 2010.

Allied Operating Texas, LLC, a wholly-owned subsidiary, operates and develops certain of Allied Energy's vertical and horizontal drilling programs. Allied Gas Transmission, Inc., a majority-owned subsidiary of Allied Energy, was formed to construct, operate and own gathering systems and/or pipelines to connect production controlled by Allied Energy to larger pipelines.

For more information: www.alliedenergy.com

CAUTIONARY STATEMENTS

Certain statements in this release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Those 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, risks of blow-outs and other potential damaging occurrences inherent to the oil and gas industry, and uncertainties and other factors that may cause the actual results, reliance upon expert recommendations and opinions, 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. For these and other reasons, 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 following: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement, including the sponsoring of general or limited partnerships, to fund its expansion plans; (ii) the Company's ability to acquire interests in commercially attractive properties to develop and/or operate; (iii) the Company's ability to build the management and human resources and infrastructure necessary to support the growth of its business; (iv) competitive factors and developments beyond the Company's control, including but not limited to the strength of the overall economy; and (v) other risk factors inherent to the oil and gas industry.

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