Allied Energy, Inc. announced that on December 30, 2013, Robert Anastario, Jr. resigned as a member of the board of directors of the Company. Richard Muller and Scott Harris are the two continuing directors of the Company.

The Company also announced that it has completed its evaluation of certain general partnerships for which it acts as managing general partner in Oklahoma and Colorado. Based upon the findings, and pursuant to the partnership agreements of the affected partnerships, Allied, as managing general partner, has dissolved and plans to terminate the following general partnerships due to non-profitability and continuing cash deficits from the operations of those non-economic partnerships.

Tags: Allied Energy