Allied Energy, Inc. Announces Spudding of the Allied Clanton #1-H Well

Allied Energy, Inc.

Announces Spudding of the Allied Clanton #1-H Well

BOWLING GREEN, KY-- (Marketwire ?
July 19, 2013) - Allied Energy, Inc. (?Company?) (OTCMarkets: AGGI) is pleased
to announce that drilling operations have commenced on a horizontal well in
Milam County, Texas, on behalf of two general partnerships sponsored by the
Company.

Allied Clanton #1-H
well:
The Allied Clanton #1-H well
was recently spud and is planned to be drilled to a total vertical depth (TVD)
of approximately 6,300 feet, and a total measured depth (TMD) of approximately 8,400
ft.

As of noon on
Thursday, July 18, 2013, vertical progress was approximately 5,800 ft.

The well will be
testing the Buda, Eagle Ford, and Georgetown formations in order to determine
the best candidate for the horizontal lateral. With successful completion of
the horizontal lateral, the Company believes the well could be completed by the
end of 3rd quarter, 2013.

The
Company has a 0.197% working interest in the well.

About
Allied Energy:

Allied
Energy, Inc. sponsors oil & gas partnerships through which it raises funds
for the drilling and development of oil & gas wells. The Company serves as managing general
partner and as the turnkey operator for the partnerships, and often owns small
interests in the partnerships and/or small interests in the properties in which
the partnerships participate.

The
Company?s ultimate strategic focus is on the development of oil and natural gas
production and reserves. The
Company believes that its oil and natural gas development strategy will provide
growth to the Company in the future.
For more information: www.alliedenergy.com

Forward-Looking
and Continuing Statements:

Certain
statements in this release and the attached corporate profile that are not
historical facts are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by
the use of words such as "anticipate," "believe,"
"expect," "future," "may," "will,"
"would," "should," "plan," "projected,"
"intend," and similar expressions. Such forward-looking statements involve known and unknown
risks, including, but not limited to, geological and geophysical risks inherent
to the oil and gas industry, and uncertainties and other factors that may cause
the actual results, price of oil and natural gas, state of the economy,
industry regulation, reliance upon expert recommendations and opinions, and
performance or achievements of the Company to be materially different from
those expressed or implied by such forward-looking statements. The Company's future operating results
are dependent upon many factors, including but not limited to: (i) the
Company?s ability to obtain sufficient capital or strategic business
arrangements to fund its drilling plans; (ii) the Company?s ability to build
the management and human resources and infrastructure necessary to support the
growth of its business; (iii) competitive factors and developments beyond the
Company's control, including but not limited to the strength of the overall
economy; and (iv) other risk factors inherent to the oil and gas industry.