Allied Energy, Inc. Announces Results of Two More Wells in Pawnee County, Oklahoma

BOWLING GREEN, KY, Jun 10 (MARKET WIRE) --
Allied Energy, Inc. (PINKSHEETS: AGGI) announced an update today on its 4
well project located near the Arkansas River in Pawnee County, Oklahoma.
Allied commenced a 4 well project on this lease at the end of 2008 and is
now putting all four wells into production along with a salt water
disposal well to handle formation water from the four wells.

The third well that Allied drilled in this project was the Eric Foust 9-9,
which was commenced in February 2009 and drilled to a depth of about 3,000
feet. The well had both oil and gas shows during drilling in several
reservoirs and covered the pit with oil when passing through the Layton.
The log revealed several intervals that the Company plans to test. Given
the successful gas test of the Eric Foust 7-9 and comparable showings on
the logs, Allied started completion of the Prue and perforated from a
reported 2,162-70 feet.

"There are some very interesting shows and indications on the logs in some
reservoirs below the Prue," said Steve Stengell, President of Allied
Energy. "However, we are still doing some analysis of these reservoirs and
believe that completing the Prue in the meantime was the best option. We
think these lower reservoirs may be a significant play that has not been
tested very much in this area," he added.

Completion of the well was recently finished, and electric power is now
being run to the well. The well was tied into the salt water disposal well
recently and is ready to be put into production. Allied is only waiting
for the electric company to turn on the meter this week, so that it can
turn everything on.

After drilling the 9-9, Allied then started drilling the Eric Foust 10-9,
which was drilled to a depth of about 2,990 feet. Despite an excellent oil
show in the Layton at about 1,550 feet, the well encountered numerous
drilling difficulties including nearly losing the drill pipe and then
later the casing in the hole during completion. It appears that either an
underground water cavern or fault was encountered as the driller had
difficulty keeping the well bore from sluffing in throughout.

"We were faced with either stepping out from this well and drilling a new
location or utilizing an existing well bore to complete in our targeted
zones," said Stengell. "We decided the lowest risk option was to complete
an existing well bore in the zones we know are usually productive in this
area," he continued.

Therefore, Allied began completion work on the Eric Foust 10-9A last month
and again targeted the Prue reservoir. The well was perforated from a
reported 2,151-60 feet and, similar to the Eric Foust 7-9, is exhibiting a
strong gas drive with some oil.

"We are pleased to wrap up the drilling and completion work on this 4 well
project and are excited about getting these wells into production here in
the next few days," added Stengell. "Once we've stabilized production and
have completed our analysis of the lower reservoirs, we will probably look
at systematically going back and completing other zones and co-mingling
production in each well bore. For now though, we want to focus on
establishing steady production revenues and the appropriate management of
lease operating expenses," he said.

Revenue distribution should begin for the Foust #9-9 and #10-9A in the
next 90-120 days.

No assurances can be made as it relates to future production rates, rates
of return, project timelines or estimated reserves. There are tremendous
risks and uncertainties associated with oil and gas drilling, completion,
production and development.

About Allied Energy, Inc.

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, recommendations from third parties and financial
experts 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.

The Company has more than 6,000 acres under lease, more than 70 wells
under development (110 +/- well-bores under control) and continues to
build its own gas line infrastructure system in Rogers County to maximize
its price for gas at the wellhead. Allied and its partners are also
participating in oil and gas projects located in Leon County, Texas,
Morgan County, Colorado and Washington/Athens Counties, Ohio.

The Company has a wholly owned subsidiary, Allied Operating LLC, including
a field office, ten (10) employees and various equipment located in
Oolagah, Oklahoma. Allied Operating supervises the Company's field
operations (120 +/- well-bores total) located in Rogers and Pawnee
Counties, Oklahoma.

Earlier this year, Allied Energy, Inc. formed Allied Gas Transmission, a
majority owned subsidiary, also located in Rogers County, Oklahoma. Allied
Gas Transmission is currently developing a gas pipeline / transmission
system in Rogers County.

The Company's audited financial statements can be viewed at
www.alliedenergy.com or www.pinksheets.com

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. It is
impossible to accurately forecast or predict oil and/or natural gas
production and reserves. The projections herein are only estimates. The
Company can make no assurance that commercial production will be obtained,
and if obtained, in such quantities to make the project commercial. 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. Production rates are often estimates and reported
by a contracted operator and may vary. Shrinkage, line loss and other
factors may decrease actual reported amounts of gas production. Gas
transmission costs and the quality of the gas may also adversely affect
the priced received and total reported volume. The Company's geological
and geophysical evaluations of its prospects are often times based on
recommendations from regional experts, geologists and other
professionals. However, Allied cannot make any assurance that the
recommendations of and/or information received from these professionals
are completely valid and will result in the commercial production of oil
and/or gas.

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

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