SOURCE: Allied Energy, Inc.

June 26, 2008 14:36 ET

Allied Energy Sponsors Grand Opening of the Circus Square Park in Bowling Green, Kentucky

BOWLING GREEN, KY--(Marketwire - June 26, 2008) - Allied Energy, Inc. (PINKSHEETS: AGGI) announced today that it is sponsoring the June 27-28 grand opening of Circus Square Park in Bowling Green.

The Bowling Green Downtown Redevelopment Authority in partnership with the City of Bowling Green and Allied Energy has invited the entire community to celebrate the grand opening of our newest downtown destination.

On Saturday, June 28 the celebration continues when the Downtown Redevelopment Authority presents The Colorful Hat Circus. Jugglers, clowns, and a variety of food, games, inflatables, and other activities will be available throughout the day. At 1:00 and 4:00 the Colorful Hat Circus will showcase aerial acts, trapeze artists, aerial hoop, partner acrobatics, and contortionists. The Circus is free and open to the public.

"The timing of this contribution was perfect," said Steve Stengell, Allied's Vice President of Business Development. "We believe this is a prime opportunity for the Company to give back to our community and be a part of an important milestone in the redevelopment of downtown Bowling Green. We are excited to provide an event that the whole community can enjoy."

For more information about this event, please visit http://www.bgky.org/releases_detail.php?id=785

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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