Avalon Increases Ownership in the East Chandler Field.MINNEAPOLIS -- Avalon Oil & Gas, Inc., (Avalon) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AOGN) announced that it has increased its working interests in the five well East Chandler Field, Lincoln County, Oklahoma Lincoln County is a county located in the U.S. state of Oklahoma. As of 2006, the population was 32,645. The county is considered part of the Oklahoma City Consolidated Metropolitan Statistical Area. Its county seat is Chandler6. . Avalon has increased its working interest in the Grace wells as follows: in the Grace #1 to 42.125%; in the Grace # 2 to 30.5%; in the Grace #3 to 39.0%, in the Grace #5A to 40.0%, and in the Grace #6 to 34.0%. "We are excited to have completed the purchase of these fractional fractional size expressed as a relative part of a unit. fractional catabolic rate the percentage of an available pool of body component, e.g. protein, iron, which is replaced, transferred or lost per unit of time. working interests with a combination of cash and stock, and are actively seeking to increase our ownership in these wells over the next 30 days", said Kent Rodriguez, Avalon's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . About Avalon Oil & Gas, Inc. Avalon Oil & Gas is an oil and gas company engaged in the acquisition and development of producing oil and gas properties. In addition, Avalon's technology group acquires and develops energy production enhancing technologies. Through Oiltek, Inc., Avalon's majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. , Avalon is building an asset portfolio of innovative technologies in the oil and gas industry to maximize enhancement opportunities. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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.avalonoil.com. |
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