INDEPENDENCE, Kan., Aug. 12 /PRNewswire-FirstCall/ -- Allenergy, Inc. (Pink Sheets: ALRY), an independent oil and gas producer focused on Southeastern Kansas, has completed a strategic review of its 12-property portfolio and identified four leases for further consideration after receiving indications of interest from potential purchasers. "We evaluated Allenergy's leases on the basis of realizing value for shareholders," said ALRY CEO Larry Sanford. "Four of our properties have attracted prospective acquirers, and we will now formally start responding to them." The objective of Allenergy's strategic review is to focus on a short list of ALRY properties for further analysis and possible discussion with potential acquirers. "The review is complete and this will drive Allenergy's strategic direction," Mr. Sanford said. In the first quarter of 2008 Allenergy divested its three North Central Oklahoma properties for approximately $500,000 in gross proceeds. Allenergy, Inc. is an independent energy company strategically focused on Southeastern Kansas where it currently holds approximately 3,200 acres of leased land with more than 100 oil and gas wells on its properties. For more information about the Company, please visit http://www.allenergyinc.com/ Note: Certain statements in this news release may contain "forward looking" information within the meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. Contacts: Larry Sanford Allenergy, Inc.: 620/331-9992 E&E Communications Paul Knopick, (949) 707-5365 DATASOURCE: Allenergy, Inc. CONTACT: Larry Sanford of Allenergy, Inc., +1-620-331-9992, ; or Paul Knopick of E&E Communications, +1-949-707-5365, , for Allenergy, Inc. Web Site: http://www.allenergyinc.com/

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