
Press Release
Source: Avalon
Oil & Gas, Inc.
Avalon Oil & Gas
Acquires Working Interest In
Upshur County, Texas
MINNEAPOLIS--Avalon Oil & Gas,
Inc., (OTCBB: AOGS ) has
begun conducting optimization activities in conjunction with its
partners in the New Diana property located in Upshur County, Texas.
Avalon recently announced the acquisition of a 10% working interest
in this property consisting of 13 wellbores, including producing
oil wells, salt water disposal wells and shut-in or marginally producing
wells. Subsequent to the acquisition, planned plugging activities
have been successfully completed on two inactive wells. Avalon
and its partners have commenced evaluation of the remaining wells
in the field, and anticipate developing plans for one or more workovers
to enhance production from currently inactive or marginally producing
wells. Work
has also been completed on the salt water disposal pumps and controls that have
resulted in enhanced runtime and efficiency of the salt water disposal system. "We
are very excited about one work-over location, and feel that a successful re-completion
of this inactive well will significantly increase production from the current
thirty barrels of oil (30 BOPD)", said Avalon CEO, Kent Rodriguez.
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 ,contact:
Avalon Oil & Gas,
Inc., Minneapolis Kent Rodriguez, 952-746-9655 Fax 952-746-5216 |