
Press Release
Source: Avalon
Oil & Gas, Inc.
Avalon Begins Workover to Enhance Production on the Deltaic
Farms # 1
MINNEAPOLIS, MN - June 28, 2007 – Avalon
Oil & Gas, Inc., (OTCBB: AOGN) announced that it has finalized
an AFE (Authorization for Expenditure) for the workover of the Deltaic
Farms # -1 well, Miller County, Arkansas
The workover is anticipated
to remove a paraffin build-up through chemical injection, as well
as install a pumpoff controller. In addition KROG LLC, partner in
this property, operates the well and anticipates commencing the work
on this project within the next thirty days. This well was originally
drilled and completed in the Tokio zone in 1989.
Avalon and KROG jointly each own 50% of three wells in the
Kiblah field, which produce oil from the Tokio zone at an approximate
depth of 3,000’.
The partners are also in the process of evaluating
workover potential on another well in the field, as well as identifying
other opportunities in the area around this property in Southwestern
Arkansas.
About
Avalon Oil & Gas, Inc.
Avalon Oil & Gas, Inc. is an oil and gas 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 its strategic partnership with
UTEK, Inc, (UTK: ASE) a transfer technology company, 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, 952-746-9655 Fax 952-746-5216
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