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January 10, 2007 Allied Energy Group, Inc.
 

ALLIED ENERGY GROUP

SPECIAL INVESTMENT REPORT

 

  Allied Energy Group, Inc. (OTC : AGGI.PK) Provides Completion Update for its Five-well Coalbed Methane Drilling Program

  Business Summary

  Allied Energy Group, Inc. (OTC : AGGI.PK) is an independent energy development firm primarily engaged in the exploration, development and production of oil and natural gas in the continental United States.

  Allied Energy Group, Inc. was formed in June 2003 with the objective of becoming a leader in the oil and gas industry. The company relies upon its geologists, engineers, and industry experts whose combined industry experience is essential to the success of each project. Allied Energy Group's strategic focus is the development of reserves.

  "Hall of Famer" Terry Bradshaw of the "Winners Circle" will interview Cole Halliburton, President of Allied Energy Group, Inc. The interview will air on MSNBC on January 22, 2007 during the "Imus in the Morning" show.

  Products and Services

  The Company has been aggressively active in the following areas:

  Schleicher Country, Texas: The Company is currently drilling a 6,000 ft. test well to the Strawn Limestone as a direct off-set to the Tucker-Milligan #1 located on the Company's Wright/Griffen leasehold located in Schleicher County, Texas. The Tucher-Milligan #1 originally open-flowed tested at 6.2 million cubic feet of gas per day in 1965.

  Eastern Kentucky:

  The Don Sullivan #8, Clarence Bright #2, and Dale Greer #1 wells have each been drilled and discovered gas in multiple zones. Each well is currently in and/or has been completed for production. The Don Sullivan #8 has reported initial production rates of 60,000 cubic feet of gas per day.

  Rogers County, Oklahoma:

  Allied Energy Group, Inc., and its strategic industry partners, currently have more than 50 CBM wells under development in Rogers County, Oklahoma; 15 wells in production, 11 wells in completion and/or planned to be re-completed, and a projected 8 more wells tentatively scheduled to be drilled by early 2007 with plans to drill and develop an additional 20-25 coalbed methane wells in this same area beginning in 2007.

  For the long-term, the Company and its industry partners have secured approximately 4,000 +/- acres currently under lease or to be leased in this area and have future plans to participate in the drilling of as many as 150-200 coalbed methane wells in Oklahoma with 80 prospective locations under development or previously identified.