
Press Release
Source: Avalon
Oil & Gas, Inc.
Avalon Oil & Gas Commences testing Operations in Grant
Parish, Louisiana.
Februsary 08, 2007
MINNEAPOLIS--Avalon Oil & Gas,
Inc., (OTCBB: AOGS ) and its partners have commenced field operations
designed to provide a measure of the productive capabilities of this
property prior to acquisition.
Initial activities have been performed that included a workover
of one of the wells to lower the bottom hole pump assembly, along
with related modification of the surface components of the pumping
unit. This work has been completed, and fluid was recovered with
an oil cut showing signs of improvement, although mechanical complications
have arisen that have limited production from this well over the
last week. These complications have been addressed and this well
is expected to be put back on production late this week.
A second well is currently undergoing workover operations to repair
or replace the existing downhole pump, as well as provide modifications
of the existing surface facilities. A third well has been placed
in operation in its current condition.
Upon completion of the current work on the second and third wells,
production is expected to continue for a number of weeks in order
to monitor the oil cut, total fluid production, and saltwater disposal
capabilities of the property.
Avalon owns an undivided twenty five percent (25%) working interest
in the property. A due diligence evaluation is also underway on the
property.
Avalon and KROG are continuing their focus on enhancing operating
synergies in the Southwest Arkansas, Northwest Louisiana and East
Texas region through acquisition of other mature production in the
area. The area immediately surrounding these new properties consists
mainly of independent producers.
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 with multiple enhancement
opportunities.
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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