Allied Energy Increases Acreage Position in Oklahoma

Allied Energy has signed an agreement acquiring working interest ownership in nine producing wells, two wells needing service for production, and 1,895 acres to be developed in southern Rogers County, near Oologah, Oklahoma. The company forecasts completion on five wells and drilling of nine new wells.

"We believe this is a tremendous opportunity to develop the existing coal seams and Mississippi Limestone for both gas and oil production in one project area," said Steve Stengell, Allied's Executive VP of Operations.

The acquisition is a southern extension of an area where Allied has been developing conservative projects with consistent returns. Allied is also interested in additional acreage in Rogers County to drilling 150-200 CBM wells in the future.

Allied Energy is an independent energy development firm engaged in the exploration, development, and production of oil and natural gas in the continental United States. It relies upon industry partners, well operators, geologists, petroleum engineers, and financial analysts on each project. Alliedís focus is development of oil and natural gas reserves.

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