NEW YORK, Aug. 28 /PRNewswire-FirstCall/ -- Allied Energy Corporation, Inc. (Pink Sheets: AGYP) is pleased to announce that the Company is in advanced negotiations to acquire a substantial interest in oil and gas properties located within the Powder River Basin (Wyoming, USA). An executed agreement is expected shortly and will be announced to Shareholders along with further information potential reserves/production schedules, as appropriate. About Allied Energy Corporation: Allied Energy Corporation is a mineral exploration company that seeks to maintain a balanced portfolio of properties, where risk has been substantially measured by meticulous technical evaluation and geophysics. Allied Energy is the embodiment of a diversified consortium of energy resources and seeks interest in oil, gas, coal, uranium and renewable energy sources. This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of the proposed acquisition and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein. DATASOURCE: Allied Energy Corporation, Inc. CONTACT: Antonio Treminio for Allied Energy Corporation, Inc., +1-212-315-9705

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