Allenergy Inc. (ALRY)

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Allenergy, Inc. Voluntarily Updates Financial Info at Pinksheets.com; 'Stop Sign' Removed by OTC Market

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July 1, 2008 10:00 AM EDT

INDEPENDENCE, Kan., July 1 /PRNewswire-FirstCall/ -- Allenergy, Inc. (Pink Sheets: ALRY), an independent oil and gas producer focused on Southeastern Kansas, today announced that it has voluntarily updated Company financial information at http://www.Pinksheets.com, and, as a result, the OTC Market has removed the "Stop Sign" on its stock symbol, ALRY.

"Based on a growing number of requests from our expanding investor base for additional financial information from us, and to make the Allenergy operations more transparent to the public, we have supplied several important updates," said Larry Sanford, CEO and President of Allenergy. One of the results of these updates has been an upgraded status on the Pinksheets.com website. Among the items now available are updated financial statements covering four years of both balance sheets and Profit and Loss statements, quarterly production reports and open access to ALRY's Transfer Agent, http://www.transferonline.com.

The financial data can also be found on the ALRY Company website http://www.allenergyinc.com.

Allenergy has 116.6 million issued and outstanding shares. "Last year our operations required additional funding to achieve our Phase 1 goals, particularly the new wells on the Ball Lease, so our outstanding share count rose as we obtained additional expansion funding. With our recent sale of the Creek County Lease combined with our current production revenues, we have no current plans to raise the number of outstanding shares, and are adequately financed for the foreseeable future," concluded Mr. Sanford.

About Allenergy: Allenergy, Inc. (Pink Sheets: ALRY - News) is an independent energy company strategically focused on Southeastern Kansas where it currently holds approximately 4,740 acres of leased land with more than 150 oil and gas wells on its producing properties.

For more information about the Company, please visit http://www.allenergyinc.com

Note: Certain statements in this news release may contain "forward looking" information within the meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.

Contacts: Larry Sanford
[e-mail]
Allenergy, Inc.: 620/331-9992

E&E Communications Paul Knopick, [phone]
[e-mail]

SOURCE Allenergy, Inc.