Ryan & Maniskas, LLP Announces Investigation of Allis-Chalmers Energy, Inc.

Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/aly) is investigating potential claims against the board of directors of Allis-Chalmers Energy, Inc. ("Allis-Chalmers" or the "Company") (NYSE: ALY) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Seawell Ltd. in a transaction valued at approximately $890 million.

Our investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Allis-Chalmers. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/aly.

Under the proposed agreement, Allis-Chalmers shareholders will receive $4.25 in cash or 1.15 Seawell Ltd. shares for each share of Allis-Chalmers common stock they hold.

If you own shares of Allis-Chalmers and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/aly. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan and Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.