
Press Release
Source: Avalon
Oil & Gas, Inc.
Avalon Oil & Gas Commences testing Operations in Grant
Parish, Louisiana
MINNEAPOLIS- July 2, 2007 - Avalon Oil & Gas,
Inc., (OTCBB: AOGN ) and its partners have commenced field operations
on the Doris Hall and Fletcher Leasehold, Grant Parish, Louisiana.
The two leases produce from the 2nd Wilcox sand from 4300 to 4400
feet. This sand is very prolific containing oil and gas in commercial
quantities. The Leasehold has six (6) wellbores. These wells were
originally drilled in 1979 and produced in excess of 200 barrels
of oil per day per well, and have been shut in for several years.
The Doris Hall
Lease has three wellbores and the Fletcher lease has field operations
are designed to provide a measure of the productive capabilities
of this property prior to acquisition. The first phase of field work
consisting of moving a bottom hole assembly for a pumping unit deeper
in one of the wells, along with related modification of the surface
components of the pumping unit, have been completed.
The
Grant Parish Properties are operated by Norman Oklahoma independent
operator DRG Energy. Dave Geyer, President of DRG Energy stated, “We
are excited begin the workovers of the three (3) wellbores on the
Doris Hall Leasehold. Initial test results on each well are very
promising”. “The oil cut in each well is starting to
increase”, said Oklahoma City independent Oil Producer and
working interest owner, Stan Barta.
Avalon, DRG and Barta all own
an undivided twenty five percent (25%) working interest in the Doris
Hall and Fletcher Leasehold.
Avalon
is actively seeking the acquisition of other oil and gas properties
in Northeast Louisiana, Southwest Arkansas and East Texas.
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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