Avalon Oil & Gas, Inc. Received Drilling Permit for Ruth #1-15.MINNEAPOLIS -- Avalon Oil & Gas, Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AOGS AOGS Angle Opposite Greater Side (math theorem) ) announced today that the Oklahoma Corporation Commission The Oklahoma Corporation Commission is a state agency, run by three commissioners, with 600 employees. It regulates oil and gas drilling, utilities and telephone companies. The current Commissioners are Bob Anthony, Jeff Cloud, and Jim Roth. has issued a drilling permit to Crown Exploration, Avalon's Joint Venture Operator to re-enter re·en·ter also re-en·ter v. re·en·tered, re·en·ter·ing, re·en·ters v.tr. 1. To enter or come in to again. 2. To record again on a list or ledger. v.intr. the Ruth #1-15, located in the SW 1/4, Section 1, Township 14 North, Range 7 West, Canadian County, Oklahoma Canadian County is a county located in the U.S. state of Oklahoma. As of 2000, the population was 87,697. The population has since grown to 101,335 in 2005. Its county seat is El Reno6. Canadian County is also part of the Oklahoma City Metropolitan Statistical Area. , and test the Layton Sand, Big Lime, Lower Skinner Sand, Mississippian Lime, and Hunton Lime. Avalon acquired a one hundred percent (100%) working interest, seventy-eight percent (78%) net revenue interest, in this leasehold on August 29, 2005. The leasehold is in the Sooner Trend Field in northwestern Oklahoma. Avalon Vice Chairman and Director Charles Gregoire de Rothschild stated "I am excited to see Avalon Oil and Gas moving ahead so quickly. We only acquired the Oklahoma leasehold in late August and we are already permitting our second well. I am eager to assist the company to obtain joint venture financing for this well." Project geologist Charles Crawford commented, "The Ruth #1-15 is a direct offset location to two prolific wells. Due to advances in directional drilling and recovery technology, we believe this reentry reentry n. taking back possession and going into real property which one owns, particularly when a tenant has failed to pay rent or has abandoned the property, or possession has been restored to the owner by judgment in an unlawful detainer lawsuit. will be successful." The Ruth #1-15 was originally drilled in 1985. It was plugged and abandoned in 2003, after producing 35,848 barrels of oil and 283,000 MCF of gas. The Ruth #1-15 is a direct offset of the Kroener #1-1, Section 10, Township 14 North, Range 7 West, Canadian County, Oklahoma, and the Wendell #12-5, Section 15, Township 14 North, Range 7 West, Canadian County, Oklahoma. The Kroener #1-1 has produced 148,807 barrels of oil, 217,243 barrels of condensate and 45,181 MCF of gas from the Lower Skinner Sand, Mississippian Lime, and Hunton Lime. The Wendell #12-5 has produced 40,732 barrels of oil, and 407,607 MCF of gas from the Lower Skinner Sand, Mississippian Lime, and Hunton Lime. About Avalon Oil & Gas, Inc. Avalon Oil & Gas, Inc., owns an eighty percent (80%) Net Revenue Interest and one hundred percent (100%) working interest in certain oil and gas leasehold interests located in Montgomery County, Kansas Montgomery County (standard abbreviation: MG) is a county located in southeast Kansas, in the central United States. The population was estimated to be 34,570 in the year 2005. , and a seventy-eight percent (78%) net revenue interest, one hundred percent (100%) working interest, in 2,400 acres located in Canadian County, Oklahoma, The leasehold is in the Sooner Trend Field in Northwestern, Oklahoma. Avalon is actively seeking to acquire and develop additional oil and gas properties in Kansas and Oklahoma. Forward-looking statements in the release are made pursuant to the Safe Harbor Provisions of 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. These forward- looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This is material information only and is not an offer or solicitation to buy or sell the securities. |
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