NEW YORK, Jan. 2 /PRNewswire-FirstCall/ -- Allied Energy Corporation (OTC Pink Sheets: AGYP) has today announced the appointment of Mr. Seth M. Shaw as Chairman of the Board of Directors ("Chairman") and Chief Executive Officer ("CEO"). In this capacity, Mr. Shaw will focus on day to day operations, securing requisite capital for proposed transactions, and completing the definitive merger agreement with Starfield Minerals Ltd. At this time Mr. James Porter, CPA will remain as President, Director, and Chief Financial Officer. Personal Biography for -- Seth M. Shaw: Mr. Shaw is an experienced organizer of private placement funding from institutional investors. He built his financial industry experience at major firms such as American International Group (AIG) Global Investment Group, Harvest Capital Management and DoubleClick, Inc. In April of 2005, Mr. Shaw founded Novastar Resources Ltd. to focus on the acquisition of thorium properties, with the vision of the metal thorium being utilized as a more efficient, non-proliferative source of nuclear fuel, at a future point. Mr. Shaw assisted the Corporation in raising more than $17.5 million from top-tier institutional investors and was instrumental in the successful completion of the merger between Novastar Resources and Thorium Power. Mr. Shaw was retained as the Director of Strategic Planning to maintain Institutional Investor Relations for the firm until April 2007. He remains as a consultant to the company at the present time. Since March 2007 Mr. Shaw has also held a position at Uni-Pixel, Inc., handling institutional investor relations. In this capacity, he has assisted management in enhancing market awareness with top tier institutional investors. Previously Mr. Shaw helped form the biotechnology startup, Physician Therapeutics, LLC, in early 2004. He served as Interim Chief Financial Officer for more than one year, arranging the company's initial financing and assisting in the structuring and negotiation of joint ventures. That Company was subsequently acquired by Targeted Medical Pharma and generates substantial annual revenues. Mr. Shaw graduated from Cornell University in 2001 with a bachelor's degree in Policy Analysis Management and a concentration in Econometrics. Mr. Shaw sits on the boards of the Cypress Fund for World Peace and Security in Washington, D.C. and the Jewish Community Center ("JCC") in Dutchess County, New York. About Allied Energy Corporation: Allied Energy Corporation (OTC:AGYP) is a publicly traded Company actively seeking a potential acquisition target within the natural resources sector. On October 31, 2007 the Company entered into a Memorandum of Understanding to acquire Starfield Minerals Ltd. or its assets. Starfield Minerals Ltd. owns a Zambia, Africa based tin and tantalite deposit (the "Starfield Mine") in the vicinity of Choma, Republic of Zambia. Forward Looking Statements (SAFE HARBOR): This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of a proposed acquisition and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein For more information, please contact: Investor Relations: Mr. Antonio Treminio Tel: +1-212-315-9705 Email: DATASOURCE: Allied Energy Corporation CONTACT: Investor Relations, Mr. Antonio Treminio, +1-212-315-9705, , for Allied Energy

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