SOURCE: Wall Street News Alert

Wall Street News Alert

October 20, 2006 10:08 ET

Wall Street News Alert: Investment Watch: AGGI! October 20, 2006

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL--(Marketwire - October 20, 2006) - Wall Street News Alert's "stocks to watch" this morning are: Allied Energy Group, Inc. (PINKSHEETS: AGGI), GOOGLE INC (NASDAQ: GOOG), Devon Energy Corporation (NYSE: DVN) and Marathon Oil Corporation (NYSE: MRO).

As the company continues to announce successful drilling operations, Allied Energy Group, Inc. (PINKSHEETS: AGGI) may once again be a target of aggressive investors and day traders this morning! Yesterday after the stock markets closed, the company issued a press release announcing that, partnered with the Young Oil Corporation, the Company has successfully drilled and discovered gas in all three of its wells located in Knox County, Kentucky.

News of this most recent success may excite investors! "The Don Sullivan #8, Clarence Bright #2, and Dale Greer #1 were successfully drilled and are now scheduled to be completed for the production of natural gas," said Scott Harris, Allied's Sr. Vice President of Business Development. "Although there can be no assurances we expect all three wells to go into production in the next 45 days."

"An estimated 60 feet of reported reservoir for the Big Lime formation in the Don Sullivan #8 is encouraging," said Steve Stengell, Sr. Vice President of Operations for the Company. "We believe that after the stimulation treatment and completion of these wells we can expect a stable long-term addition to the company's oil and gas income stream."

Wall Street News Alert is placing Aggressive Investors on alert to monitor the progress of Allied Energy Group! Earlier this week on Wednesday, the company also issued a press release announcing an update regarding its five-well coalbed methane project located in Rogers County, Oklahoma.

According to this press release, the second well (Schmidt #4) was successfully drilled to a measured total depth of 1,220 +/- vertical feet and apparently encountered an estimated 9-16 total feet of potentially productive interval "natural gas pay-zone" in the Croweberg, Rowe, and Mulkey coal seam formations."

For an in-depth profile of Allied Energy Group, visit http://www.thenewssvc.com/AGGI101906.html

Prior to the latest press release, the stock closed yesterday at Sixty cents a share.

To view all of Wall Street News Alert's special early morning trading alerts for this morning, visit www.WallStreetNewsAlert.com, where you may also sign up to receive free email alerts in advance of our press releases being issued.

In case you are not familiar with the company: Allied Energy Group, Inc 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 employs 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.

GOOGLE INC (NASDAQ: GOOG) up 1.6% on 11.8 million shares traded.

Devon Energy Corporation (NYSE: DVN) up 2.8% on 5.7 million shares traded. Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration, production and property acquisitions.

Marathon Oil Corporation (NYSE: MRO) up 2% on 4.6 million shares traded. Marathon Oil Corporation is an integrated international energy company.

Market Commentary:

"The economy is still slowing according to a report released by the Conference Board. The index rose only 0.1% in September, economist had predicted 0.3%; the index has dropped 5 of the last 8 months, down by 0.9% in the past 6 months. The 5 leading indicators that fell in September were: building permits, factory working hours, delivery times, interest-rate spread, and new orders for consumer goods. The 5 that rose were: consumer expectations, money supply, stock prices, jobless claims, and core capital equipment orders," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.

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