Allenergy Takes Steps to Become All-Energy; Diversifying Into Wind Power

INDEPENDENCE, Kan., Jan. 29 /PRNewswire-FirstCall/ — Allenergy, Inc. (Pink Sheets: ALRY), with an 18 year history of oil and natural gas development and production, today announces it has taken the key steps towards expanding its business to include wind power. It has been a longstanding plan of the Company to broaden its source of revenue by expanding into additional forms of energy.

Because of both the revenue and the Federal tax breaks, many land owners in the region are seeking to use their land for wind power generation. Allenergy is taking the necessary steps to sell, service, and install wind power generation. Allenergy can also benefit from wind power revenues on its current leases and on additional land leases.

“Though our core focus remains oil and natural gas production and well services, it has been a part of our long term strategic plan to diversify,” Larry Sanford, CEO, said. “With the incredible rise and fall of oil prices recently it seems even more prudent to open up additional revenue streams. Our plan will help to ensure Allenergy’s long term growth and profitability regardless of oil price fluctuations.”

Rex Horning, Allenergy’s Vice President of Operations, has been leading the strategic planning for Allenergy’s diversification. “We have the potential to take advantage of the new technologies for wind generation. The demand for wind generation has increased. In time Allenergy will have the opportunity to provide some of our existing clients with additional services,” Mr. Horning said.

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.

    E&E Communications
    Paul Knopick, (949) 707-5365
    pknopick@eandecommunications.com

[Via http://www.prnewswire.com]

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