Avondale Resources Corporation: Operator Receives Drilling Permit for PATSY #1-3.TULSA, Okla. -- Avondale Resources Corporation 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, operator for Avondale, 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 PATSY #1-3, located in the NE/4 Section 3-14N-6W, Canadian County Oklahoma. The PATSY #1-3 was drilled in February 1982 and produced from the Hunton Lime and the Redfork Sand until 1997. Offset to the North is the Meyer #34-1 which records show produced 35.2 MBO MBO See: Management buyout and .390 BCFG BCFG Fog Patches (Terminal Area Forecast) BCFG Billion Cubic Feet Gas BCFG British Cold Forging Group from the upper section of the 1st Bromide bromide, any of a group of compounds that contain bromine and a more electropositive element or radical. Bromides are formed by the reaction of bromine or a bromide with another substance; they are widely distributed in nature. Sand only. Virgin zones to be exploited are the 1st Bromide, Viola and Mississippian Lime, Woodford Shale, Skinner and Prue Sand. Independent consulting geologist, Charles Crawford, stated, "The virgin reserve potential of the project will be a valuable addition to Avondale's re-establishment program." Avondale acquired the 160 acre leasehold, located in the Sooner Trend, with a 78% NRI NRI Nomura Research Institute (Tokyo, Japan) NRI Non-Resident Indian NRI Natural Resources Institute NRI National Resources Inventory NRI Networked Readiness Index NRI Natural Resources Inventory NRI National Research Institute and has a 100% working interest in the PATSY. Re-completion commences following the Company's raising sufficient capital for such re-completion. Avondale Resources Corporation is an oil and gas exploration company actively seeking to acquire and develop additional oil and gas properties in Kansas and Oklahoma. Company plans are to develop oil and gas assets through enhancement of mature fields, marginal wells and close-in drilling. CERTAIN STATEMENTS IN THIS NEWS RELEASE MAY CONTAIN FORWARD- LOOKING INFORMATION WITHIN THE MEANING OF RULE 175 UNDER THE SECURITIES ACT OF 1933 AND RULE 3b-6 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AND ARE SUBJECT TO THE SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. CREATED BY THOSE RULES. ALL STATEMENTS, OTHER THAN STATEMENTS OF FACT, INCLUDED IN THIS RELEASE, INCLUDING, WITHOUT LIMITATION, STATEMENTS REGARDING POTENTIAL FUTURE PLANS AND OBJECTIVES OF THE COMPANY, ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. TECHNICAL COMPLICATIONS THAT MAY ARISE COULD PREVENT THE PROMPT IMPLEMENTATION OF ANY STRATEGICALLY SIGNIFICANT PLAN(S) OUTLINED ABOVE. THE COMPANY CAUTIONS THAT THESE FORWARD-LOOKING STATEMENTS ARE FURTHER QUALIFIED BY OTHER FACTORS. THE COMPANY UNDERTAKES NO OBLIGATIONS TO PUBLICLY UPDATE OR REVISE ANY STATEMENTS IN THIS RELEASE, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE. |
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