Allied Resources Revenue Climbs 66% Over Prior Period

SALT LAKE CITY--(BUSINESS WIRE)--Allied Resources, Inc. (OTCBB: ALOD) (“Allied”), an independent oil and gas producer, continues to post record revenue due to higher energy prices over the reported period.

Revenue for the nine months ended September 30, 2008 increased to $1,017,469 from $611,329 for the comparative period ended September 30, 2007. Revenue for the three months ended September 30, 2008 increased to $324,317 from $221,027 for the comparative period ended September 30, 2007. Revenue increases had an appreciable effect on net income.

Net income for the nine months ended September 30, 2008, after provision for income taxes, increased to $280,527 from $105,655 for the comparative period ended September 30, 2007. Net income, after provision for income taxes, rose to $84,002 for the three months ended September 30, 2008 from $28,545 for the comparative period.

Ruairidh Campbell, Allied’s chief executive officer, commented, “While we are pleased with our third quarter results our celebration is tempered in the knowledge that energy prices have declined significantly in this fourth quarter of 2008. The decline will have a dampening effect on our overall results for the year. Despite this anticipated near term result, we see a current opportunity to use available cash resources to acquire additional oil and gas properties for value. We believe that the market for energy products is part of a temporary malaise that is likely to rebound once financial markets come to grips with what has become a worldwide financial calamity. Our future success requires that we continue to grow and there may be no better time than now to act on expansion.”

About Allied Resources, Inc.

Allied is an independent oil and natural gas producer involved in the exploration, development, production, and sale of oil and gas derived from properties located in Calhoun and Ritchie Counties, West Virginia and Goliad, Edwards and Jackson Counties, Texas. The company currently realizes production from a total of 158 wells with non-operated working interests ranging from 3% to 75%.

Allied intends to continue to purchase non-operated oil and gas producing properties, acquire oil and gas leases that it will operate and implement improved production efficiencies on existing wells. The company’s criteria for purchasing oil and gas producing properties is defined by short term returns on investment, long term growth in revenue, and development potential, while its criteria for acquiring oil and gas leases is predicated on a proven record of historical production and our own capacity to operate any given field.

For further investor information, please contact Ruairidh Campbell at [phone] or visit Allied’s website at www.allied-resources-inc.com

Forward Looking Statements

A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including the recovery of oil and gas resources, prices for oil and natural gas, competitive market conditions, and the ability to secure sufficient sources of financing if required. The actual results Allied may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Allied encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K and Form 10-Q. Allied's public filings may be viewed at www.sec.gov.