Avondale Resources Corporation Announces Intent to Purchase Cottonwood Unit Production Package.TULSA Tulsa (tŭl`sə), city (1990 pop. 367,302), seat of Tulsa co., NE Okla., on the Arkansas River east of its junction with the Cimarron; inc. 1898. , Okla. -- Avondale Avondale may refer to: In United States geography:
ANDL Asociación Nacional de Locutores (Spanish) ) announced today that it is currently in negotiations to acquire the Cottonwood cottonwood: see willow. cottonwood Any of several fast-growing North American trees of the genus Populus. Members of the willow family, cottonwoods have heart-shaped, toothed leaves and cottony seeds. The dangling leaves clatter in the wind. Waterflood Unit in Creek County Oklahoma. After signing a letter of intent, Tom McCord, President and 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. , said today "The acquisition of the Cottonwood is a major step for Avondale. This field currently produces about 30 barrels of oil per day with approximately 15% of the existing wells on at this time. The re-activation of the remaining wells will provide significant production revenues that will serve as a springboard for our growth." The Cottonwood Unit consists of approximately 1800 lease acres containing over 125 temporarily abandoned wells. Plans for the Cottonwood consist of a de-watering enhancement program with individual well re-establishment. 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 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. 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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