
Press Release
Source: Avalon Oil & Gas, Inc.
Avalon Completes Work-over on the Grace #6 Well
MINNEAPOLIS, MN, April 30, 2009 – Avalon Oil & Gas, Inc., (Avalon) (OTCBB: AOGN) updated shareholders on its workover operations in the East Chandler Field, Lincoln County, Oklahoma, and reported that gas production from the Grace #6 well has increased to 205 MCF per day, and continues to increase each day.
“We have completed the work-over on the Grace # 6 and have begun to de-water the Hunton Limestone. Production was re-established at 40 MCF per day and has been increasing 5 – 10 MCF per day since we installed a submersible pump,” said Kent A. Rodriguez, Avalon’s CEO. “We continue to pump in excess of 1,000 barrels of water and the fluid level in the wellbore remains unchanged. We are excited about the initial results of the re-completion, and expect production to continue to increase as de-watering operations progress” continued Rodriguez.
The Grace #6 well was originally completed in March of 2007. Avalon holds a 33.50% working interest and a 25.75% net revenue interest in the Grace #6. “We are continuing to acquire additional fractional working interests in the Grace #6 and other wells in the East Chandler Field”, added Rodriguez.
About
Avalon Oil & Gas, Inc.
Avalon Oil & Gas, Inc. is an oil and gas investment company engaged
in the acquisition of oil and gas producing properties. In addition,
Avalon's technology group acquires and develops oil production enhancing
technologies. Through Oiltek, Inc., Avalon’s
majority-owned subsidiary, Avalon is building
an asset portfolio of innovative technologies
in the oil and gas industry to maximize
enhancement opportunities at its various
oil and gas properties.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking
statements" within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934, as amended
by the Private Securities Litigation Reform Act of 1995.
Those statements include statements regarding the intent,
belief or current expectations of Avalon Oil & Gas,
Inc., and members of its management as
well as the assumptions on which such statements
are based. Prospective investors are cautioned
that any such forward-looking statements
are not guarantees of future performance
and involve risks and uncertainties, and
that actual results may differ materially
from those contemplated by such forward-looking
statements. The Company undertakes no obligation
to update or revise forward-looking statements
to reflect changed assumptions, the occurrence
of unanticipated events or changes to future
operating results.
FOR FURTHER INFORMATION,
please visit the company’s
website at www.avalonoilinc.com, or contact:
Avalon Oil & Gas, Inc.,
Minneapolis
Kent Rodriguez, CEO
Tel: 952-746-9655
Fax 952-746-5216
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