Oil and Gas Main (fka OGM)

[Justin]

AGGI Allied Energy Group, Inc. Announces Plans to Drill 3 More Wells for Its Coalbed Methane Developments in Oklahoma
Tuesday November 7, 9:30 am ET

BOWLING GREEN, KY--(MARKET WIRE)--Nov 7, 2006 -- Allied Energy Group, Inc. (Other OTC:AGGI.PK - News) is pleased to announce its plans to drill three additional wells for its coalbed methane program in Rogers County, Oklahoma.

"In the next several weeks, the Company should have 15 wells in production, 3 wells in completion, and 10-12 more wells scheduled to be drilled this year in and/or in close proximity to Rogers County," explained Steve Stengell, Allied's Sr. Vice President of Operations.

About Allied Energy Group

Allied Energy Group, Inc. (Other OTC:AGGI.PK - News) 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.

For more information: www.alliedenergy.com

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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, 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'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.


Contact:

Company Contact:
Steve Stengell
Allied Energy Group, Inc.
2800 Griffin Dr,
Bowling Green, KY. 42101
Phone: [phone]
Fax: [phone]
Website: http://www.alliedenergy.com
Email: [e-mail]


Source: Allied Energy Group, Inc.