The Moroccan forward, 28, has struggled to claim a regular place in the Gunners' first team after initially impressing following a free transfer from Bordeaux in 2010.
"We have made an enquiry and that is all we have done at the moment," said Allardyce.
"From my point of view, the situation I have with Andy Carroll being injured and Modibo Maiga going to the African Nations Cup, means as a striker we have Carlton Cole and that is it until Andy gets fit.
"If it is a possibility that it could be a deal done, then we are looking at it, as well as a number of others.
"We need to find a left-back as quick as we can as well, because Joey O'Brien has a hamstring problem and George McCartney is out for a number of weeks, so we will have to see if there is anyone who we can find in that position for us."
West Ham on Friday confirmed the return of midfielder Joe Cole to his boyhood club on a free transfer from Liverpool.
The Irons have also been linked with a swoop for Blackburn defender Martin Olsson, a player whom Allardyce worked with when he was in charge at Ewood Park.
Allardyce said: "I did not know Martin was available, so we will have to wait and see if they make Martin available at Blackburn. I would definitely be interested because I worked with the lad when I was at the club and helped develop him into what I consider now to be quite a good player.
"Whether Blackburn are wanting to sell anybody in their fight to get back into the Premier League, I don't know."
QPR are reported to be keen on Mohamed Diame, but Allardyce stressed he would not welcome any approach for the Senegal midfielder, who is currently sidelined by injury.