The Company is currently finalizing plans to acquire an additional 20%working interestin the Foust#7-9, #8-9, #9-9 and #10-9 well sites and the lease located in PawneeCounty.

The Company believes there exists production potential in this area from amultitude offormations including, but not limited to, the Bartlesville Sand, Prue Sand,Layton Sand,Misener Sand, Red Fork Sand and other potentially productive formations.

The Foust #7-9 is awaiting a connection to the gas line and should be inproduction very soon. The Foust#7-9, having multiple sandstone formations to contribute gas or oil, hasdemonstrated very promising gas and/or oil production potential and may bethe very best well drilled in this area. Although no assurance can be made,the Foust#7-9 demonstrated oil and gas return pressures that blew the swabbing unitout of the hole and over theservice rig during completion (see the attached video).

The Company believes that a35-50 BOE (barrels of oil equivalent) for the Foust#7-9 alone is a reasonable initial daily production target rate estimatebased on all of the information to date. Although the Company is veryconfident in the careful planning and development of its projects, therecan be no assurances made that commercial oil and or gas will beestablished for any given well or group of wells.

While the electric log interpretation and other post-drilling data for the#8-9 was initially impressive, the#8-9 did not respond favorably to completion and needs more evaluationbefore it can be deemed commercial for production. At least for theshort-term, Allied, as the Managing General Partner of variouspartnerships, has elected to replace this program well with the nearby#8-9A which has recently been re-completed for production in the Red Forksand in an effort to add production to the initial 2-well program.

Drill-site locations for theFoust #9-9 and Foust #10-9 have been excavated, built and are ready to bedrilled in the very near future. The Company has secured a drilling rig toperform the drilling and has decided to re-schedule for when the Companycompletes its final legal review of title for leases in this area. This isexpected to happen in the next several weeks. "We are prepared to begindrilling the Foust#9-9 in the very near future," said Steve Stengell, Allied's President.

Allied Operating, LLC, a wholly owned subsidiary of Allied Energy, willserve as the future operator of these properties. Allied Operating, LLCcurrently supervises, the drilling, completion and/or well operations ofmore than 70 wells for Allied Energy located on 6,000 +/- acres in RogersCounty, Oklahoma.

About Allied Energy

Allied Energy, Inc. (PINKSHEETS: AGGI) is an independent energy developmentfirm primarily engaged in the exploration, development, and production ofoil and natural gas in the continental United States. The company reliesupon its industry partners, well operators, geologists, petroleum engineersand financial analysts, whose combined industry experience is essential tothe success of each project. Allied Energy's strategic focus is thedevelopment of oil and natural gas reserves. As the fuel of choice to meetthe growing demand for a clean-burning domestically produced fuel, thecompany firmly believes its natural gas exploration strategy should providesubstantial 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 thatare not historical facts are"forward-looking statements" within the meaning of the SecuritiesLitigation Reform Act of 1995. Such statements may be identified by the useof words such as "anticipate," "believe," "expect," "future," "may,""will," "would," "should," "plan," "projected," "intend," and similarexpressions. Suchforward-looking statements involve known and unknown risks including butnot limited to geological and geophysical risks inherent to the oil and gasindustry, reliance upon third party geological reports and recommendationsfrom experts and field personnel, uncertainties and other factors that maycause the actual results, performance or achievements of the Company to bematerially different from those expressed or implied by suchforward-looking statements. Any projections made by the Company are onlyestimates. No assurances can be made that commercial oil and/or gasproduction can and/or will be established for any given project. TheCompany may have varying degrees of working and net revenue interestownership in each well and/or prospect. Thus, gross revenue projections maynot be equal to what is distributed net to the Company. The Company'sfuture operating results are dependent upon many factors, including but notlimited to the Company's ability to: (i) obtain sufficient capital or astrategic business arrangement to fund its expansion plans; (ii) build themanagement and human resources and infrastructure necessary to support thegrowth of its business; (iii) competitive factors and developments beyondthe Company's control; and (iv) other risk factors inherent to the oil andgas industry.

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Contact:Company Contact:Steve StengellAllied Energy, Inc.2800 Griffin Dr,Bowling Green, KY 42101Phone: 866-256-5836Fax: 800-251-9322Website: http://www.alliedenergy.comEmail: info@alliedenergy.com