Message #21 From:
NewsBot Date: January 11, 2007 07:00:00 AM
AOGS News Avalon Oil & Gas Provides Operational Update for Upshur County, Texas Property
MINNEAPOLIS--(BUSINESS WIRE)--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, please visit the company’s
website at www.avalonoilinc.com,
or contact:
