
Press Release
Source: Avalon
Oil & Gas, Inc.
Avalon Successfully Completes Workover to Enhance Production
on the Deltic Farms # 1
MINNEAPOLIS, MN - July 5, 2007 – Avalon Oil & Gas, Inc.,
(OTCBB: AOGN) announced the workover on the Deltic Farms # 1 , Kiblah
Field, Miller County, Arkansas has been successfully completed.
The
workover to remove the paraffin build-up was completed as planned
through a chemical treatment. This well was originally drilled and
completed in 1989. “We are pleased to have completed another
successful workover”, stated Avalon’s President, Kent
Rodriguez.
Avalon owns a fifty percent (50%) working interest in this
well and two other wells in the Kiblah field, which produce oil from
the Tokio zone at an approximate depth of 3,000 feet. Rodriguez added, “The
removal of the paraffin build-up should permit us to recover 15,900
barrels of oil of proven reserves.
Avalon and its working interest
partner are 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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