Allied Energy Turns on Taps at Watkins #1 Project in Ohio

Allied Energy has provided the following report regarding its Watkins #1 well in Southeast Ohio.

The Watkins #1 was completed for production last week and was placed in production at an initial rate of 120,000 cubic feet of gas per day.

The Watkins #1 delineated what appears to be a productive reservoir in the Berea Sandstone, Gordon Shale and potentially other shale formations.

The Company can make no assurances as to present and/or future production rates or estimates for any given well or project. There are risks and uncertainties associated with any oil and gas drilling, completion and production operations.

"Although there are risks associated with production operations, we believe the Watkins #1 should be a strong long-term producer," said Steve Stengell, Allied's President. "Production from both conventional and nonconventional reservoirs between 1,800 - 3,500 feet in vertical depth makes this well somewhat unique for this area," added Stengell.