Allied Energy Announces Plans to Drill Two Additional Wells in Southeast Ohio

BOWLING GREEN, KY -- (MARKET WIRE) -- 05/26/08 -- Allied Energy, Inc. (PINKSHEETS: AGGI) announced today its plans to drill two additional wells in Washington and/or Athens Counties, Ohio.

The Company now has plans to drill a six (6) well pilot program in Washington and/or Athens Counties to a vertical depth of 4,000 +/-feet to test various reservoirs for natural gas and/or oil.

"High BTU content and the quality of gas, close proximity to gas markets of the northeast and a combination of gas production potential from both conventional and nonconventional reservoirs bode well for our pilot program in Southeast Ohio and is the reason why we decided to drill two additional locations," said Steve Stengell, Allied's Vice President of Business Development. "We are tentatively scheduled to begin drilling the first of our six proposed locations in July," added Stengell.

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.

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

2008-05-26 09:32:26 0370069 MARKETWIRE