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The Future of Energy
"One company dedicated to America's energy independence is Allied Energy, Inc (PINKSHEETS: AGGI). Allied Energy (AEI) is a company committed to developing domestic oil and gas resources and alternative energy. AEI has acquired numerous properties to assure long-term growth. The company uses leading edge geo-sciences and other technology to identify and develop quality oil and gas properties."
"Regardless of the state of the global economy, Allied Energy continues to grow and plan for the future," said Steve Stengell, president of AEI, in a recent earnings release. "The company is profitable and the quality of earnings during this tumultuous economy has improved significantly. And we expect earnings to improve in the future."
Forward Thinking
"According to Steve Stengell, the success of AEI depends on following through on several key areas:
-- Leverage assets to build a stronger first-class oil and gas company;
-- Identify and develop significant reserves through exploration
efforts;
-- Build production reserves and other assets through diversity;
-- Invest in research and development of alternative energy products."
Growth Through Economic Adversity
"AEI has achieved impressive growth over the last few years when many companies downsized or went out of business. In 2006, the company reported over $5 million in revenue. Revenue increase to $9.1 million in 2007. According to recent audited financial statements, the company reported revenue of $13.3 million for 2008. This is an increase of $3.2 million or 31.2 percent compared to 2007. The growth occurred during a period when oil and natural gas prices were falling. The company's net income before taxes for 2008 was $1.4 million. Selling, general, and administrative expenses decreased from $5.5 million in 2007 to $3.2 million in 2008. The company attributes the lower costs to improve efficiencies and investments made in 2008."
Future Expansion and Diversification
"AEI embarked on another major expansion in 2009 when the company established Allied Alternative Energy, LLC (AAE). AAE has been working hard to develop alternative energy resources, such as wind, solar and fuel cell technologies. The company recently entered into a partnership with a waste management company to develop renewable energy resources."
About Allied Energy, Inc.
Allied Energy, Inc. (PINKSHEETS: AGGI | Quote | Chart | News | PowerRating) 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 strategic 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) 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. 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: Angela Stokes 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
SOURCE: Allied Energy, Inc.
http://www.alliedenergy.com mailto:info@alliedenergy.com
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