INDEPENDENCE, Kan., Aug. 7 /PRNewswire-FirstCall/ -- Allenergy, Inc. (Pink Sheets: ALRY), an independent oil and gas producer focused on Southeastern Kansas, has launched a strategic review of its 12-property portfolio after receiving indications of interest from potential purchasers. "We are evaluating every Allenergy lease to determine how best to realize value for shareholders," said CEO Larry Sanford. "Although the overall price declines of the past year have made it a challenging one for Allenergy, we are committed to maximizing value from the properties we currently control." According to Allenergy, the strategic review will result in the identification of a short list of ALRY properties that will be the focus of further analysis and possible discussion with potential acquirers. "We expect to have the results shortly and this will drive Allenergy's strategic direction for the properties we target," Mr. Sanford said. In the first quarter of 2008 Allenergy divested its three North Central Oklahoma properties for approximately $500,000 in gross proceeds. About Allenergy: Allenergy, Inc. (Pink Sheets: ALRY - News) 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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