
Press Release
Source: Avalon
Oil & Gas, Inc.
Avalon Oil & Gas Appoints Expert Advisor in Strategic
Technology Investment
MINNEAPOLIS, MN (PR Newswire) – July 23, 2007--
Avalon Oil & Gas,
Inc., (OTCBB: AOGN) (“Avalon”) announced the appointment
of Dr. D. Bruce Merrifield as an expert advisor. Dr. Merrifield is
currently President and CEO of Pridco Management, distinguished visiting
Professor at Georgetown University, and Professor Emeritus of the
Wharton School of the University of Pennsylvania, as a Chaired Professor
of Innovation and Entrepreneurial Management. He is a former Vice
President of Technology for the Occidental Petroleum Company and
a Director of the Gas Technology Institute.
Kent A. Rodriguez, Avalon’s President and CEO, said “Avalon
welcomes the senior leadership of Dr. Merrifield to help us realize
the full market value of the company’s investment in innovative
energy technologies.” Avalon’s expansion into energy
technology commercialization leverages Avalon’s investment
strategy to acquire and enhance oil and gas producing properties.
Dr.
Merrifield brings to Avalon his considerable expertise from an exemplary
technology leadership career in both public and private sectors.
He served as
Assistant Secretary in the U.S. Department of Commerce for Technology
and also Undersecretary for Economic Affairs in the Reagan Administration;
where he was instrumental in Technology Transfer legislation to enable
Federal research funding for private sector access. Under his leadership,
the R & D Limited Partnership model for collaborative research
(now known as the LLC ) was created, along with Sematech and like
consortia, Innovation Centers and New Business Incubators across
the country. His Office created the Quality Productivity Award (which
was later renamed the Baldridge Award), and various critical legislation
to protect U.S. patents and intellectual property; foster technology
commercialization and economic growth.
Upon joining Avalon’s advisory team, Dr. Merrifield commented ”It
is critical that our country pursues production enhancing technologies
to move us toward energy independence. Avalon’s strategy to
bring promising innovations to market is important to foster our
domestic energy industry’s competitiveness in the long run.”
As an Advisor to Avalon, Dr. Merrifield’s
expertise in collaborative commercialization of emerging technologies
will support development of its intellectual property assets encompassing
solutions for paraffin wax mitigation, hazardous gas leak detection
and intelligent reservoir mapping systems.
Please see the company’s website: www.avalonoilinc.com for
additional information on Dr. Merrifield and Avalon’s oil and
gas production technology investments.
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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