Allied Energy, Inc. Announces Resignation of Director and Dissolution of Non-Economic Partnerships
03 Gennaio 2014 - 11:51PM
Marketwired
Allied Energy, Inc. Announces Resignation of Director and
Dissolution of Non-Economic Partnerships
BOWLING GREEN, KY--(Marketwired - Jan 3, 2014) - Allied
Energy, Inc. ("Company") (OTC Pink: AGGI) today announced that on
December 30, 2013, Robert Anastario, Jr. resigned as a member of
the board of directors of the Company. Richard Muller and
Scott Harris are the two continuing directors of the Company.
The Company also announced that it has completed its evaluation
of certain general partnerships for which it acts as managing
general partner in Oklahoma and Colorado. Based upon the
findings, and pursuant to the partnership agreements of the
affected partnerships, Allied, as managing general partner, has
dissolved and plans to terminate the following general partnerships
due to non-profitability and continuing cash deficits from the
operations of those non-economic partnerships.
Bush Spectrum 7 Development Caney River CBM Production and
Drilling Program Cherokee 25 Production & Drilling Hickory 4
Hickory Hollow Production & Drilling Program Morgan County
Off-Set Development Morgan County Off-Set Program Pawnee-Rogers
County Joint Venture Pawnee-Rogers County Development Pawnee-SE
Ohio Development SE Ohio Shale & Oriskany Development South
Rogers Six T3 CBM Development Talala Coalbed Methane Development US
CBM Energy Program
Allied continues to serve as managing general partner for
approximately 35 additional partnerships and joint ventures that
are operating in areas of Texas and Oklahoma.
About Allied Energy: Allied Energy, Inc. is engaged in the
oil and gas exploration and development business, with operations
located primarily in Texas and Oklahoma. The Company 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 of the partnerships and often
owns differing partnership interests in the partnerships and/or
differing direct 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.
Contact: Scott Harris Allied Energy, Inc. 2427 Russellville Road
Bowling Green, KY 42101 Phone: 866-256-5836 Fax: 800-251-9322
Website: http://www.alliedenergy.com Email:
info@alliedenergy.com
Grafico Azioni Allied Energy (PK) (USOTC:AGGI)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Allied Energy (PK) (USOTC:AGGI)
Storico
Da Gen 2024 a Gen 2025
