Business
Allied Energy, Inc. Announces Dissolution of Non-Economic Partnerships
Allied Energy, Inc. Announces Dissolution of Non-Economic Partnerships.
About this update from Allied Energy, Inc.
[{"type":"text","content":"\n \n \n \n\n \n 0\n false\n \n \n 18 pt\n 18 pt\n 0\n 0\n \n false\n false\n false\n \n \n \n \n \n \n \n\n \n \n\n\n\n\n /* Style Definitions */\ntable.MsoNormalTable\n\t{mso-style-name:\"Table Normal\";\n\tmso-tstyle-rowband-size:0;\n\tmso-tstyle-colband-size:0;\n\tmso-style-noshow:yes;\n\tmso-style-parent:\"\";\n\tmso-padding-alt:0in 5.4pt 0in 5.4pt;\n\tmso-para-margin:0in;\n\tmso-para-margin-bottom:.0001pt;\n\tmso-pagination:widow-orphan;\n\tfont-size:12.0pt;\n\tfont-family:\"Times New Roman\";\n\tmso-ascii-font-family:Cambria;\n\tmso-ascii-theme-font:minor-latin;\n\tmso-fareast-font-family:\"?? ??\";\n\tmso-fareast-theme-font:minor-fareast;\n\tmso-hansi-font-family:Cambria;\n\tmso-hansi-theme-font:minor-latin;\n\tmso-bidi-font-family:\"Times New Roman\";\n\tmso-bidi-theme-font:minor-bidi;}\n\n\n\n\n\n\n\nAllied\nEnergy, Inc. \n\nAnnounces Dissolution of\nNon-Economic Partnerships\n\n \n\nBOWLING GREEN, KY--\n(Marketwire ? April 17, 2014) - Allied Energy, Inc. (?Company?) (OTCPink: AGGI)\nannounced today that it has completed its evaluation and analysis of five of\nthe general partnerships for which it acts as managing general partner. Based\nupon the findings, and pursuant to the partnership agreements of the affected\npartnerships, Allied, as managing general partner, has dissolved and plans to\nterminate the following general partnerships due to non-profitability and\ncontinuing cash deficits from the operations of those non-economic\npartnerships.\n\nCherokee County\nOffset \n\nRock Hill Prospect\n\nRock Hill II\n\n2011 Allied Grimes\n#3 PUD\n\nGrimes County 4\n\nAllied continues to serve as\nmanaging general partner for additional partnerships and joint ventures that\nare operating in areas of Texas and/or Oklahoma. Allied intends to evaluate and\nanalyze each of these other partnerships and joint ventures to determine\nwhether continuation or dissolution and termination is appropriate pursuant to\nthe terms of their respective governing documents.\n\nForward-Looking and Continuing\nStatements:\n\nCertain statements\nin this release and the attached corporate profile that are not historical\nfacts are \"forward-looking statements\" within the meaning of the\nPrivate Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such\nas \"anticipate,\" \"believe,\" \"expect,\...