Note 11 - Commitments and Contingencies	12 Months Ended
Dec. 31, 2013
Notes
Note 11 - Commitments and Contingencies	Note 11 – Commitments and Contingencies Oil and Gas Operating Agreement The Company has agreements with the operators of the oil and gas wells in which the Company owns an interest. These agreements require the Company to pay a percentage of the fees and production costs of operating the wells. Litigation The Company may become or is subject to investigations, claims or lawsuits ensuing out of the conduct of its business, including those related to environmental safety and health, commercial transactions, etc. The Company is currently not aware of any such item which it believes could have a material adverse affect on its financial position.

Note 11 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2013

Note 11 – Commitments and Contingencies

Oil and Gas Operating Agreement

The Company has agreements with the operators of the oil and gas wells in which the Company owns an interest. These agreements require the Company to pay a percentage of the fees and production costs of operating the wells.

Litigation

The Company may become or is subject to investigations, claims or lawsuits ensuing out of the conduct of its business, including those related to environmental safety and health, commercial transactions, etc. The Company is currently not aware of any such item which it believes could have a material adverse affect on its financial position.

- Definition

Disclosure of accounting policy for commitments and contingencies, which may include policies for recognizing and measuring loss and gain contingencies.

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ALLIED RESOURCES INC 10-K