Avalon Successfully Completes Workover to Enhance Production on the Deltic Farms # 1.MINNEAPOLIS -- Avalon Oil & Gas, Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AOGN) announced the workover on the Deltic Farms # 1 , Kiblah kib·lah n. Islam The direction of the Kaaba, in Mecca, toward which Muslims face when praying. [Arabic qibla; see qbl in Semitic roots.] Field, Miller County, Arkansas Miller County is a county located in the southwestern corner of the U.S. state of Arkansas. It is part of the Texarkana, Texas - Texarkana, Arkansas Metropolitan Statistical Area. As of 2000, the population was 40,443. The county seat is Texarkana. has been successfully completed. The workover to remove the paraffin paraffin, white, more-or-less translucent, odorless, tasteless, waxy solid. It melts between 47°C; and 65°C; and is insoluble in water but soluble in ether, benzene, and certain esters. build-up build·up also build-up n. 1. The act or process of amassing or increasing: a military buildup; a buildup of tension during the strike. 2. was completed as planned through a chemical treatment. This well was originally drilled and completed in 1989. "We are pleased to have completed another successful workover", stated Avalon's President, Kent Rodriguez. Avalon owns a fifty percent (50%) working interest in this well and two other wells in the Kiblah field, which produce oil from the Tokio zone at an approximate depth of 3,000 feet. Rodriguez added, "The removal of the paraffin build-up should permit us to recover 15,900 barrels of oil of proven reserves. Avalon and its working interest partner are evaluating workover potential on another well in the field, as well as identifying other opportunities in the area around this property in Southwestern Arkansas. 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 UTK University of Tennessee at Knoxville UTK Unreal Tournament Knights UTK Unit Tindak Khas (Malaysia police special action unit) :ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. ) 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 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.avalonoilinc.com. |
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