Bedford Energy (BFDE)

[ChandlerBorn]

http://www.sec.gov/Archives/edgar/data/918573/000118518509000905/avalonoil10q063009.htm

The recent 10-Q filing by Avalon mentions Bedford several times in conjunction with the Grace Wells purchase. This is a later development:

"In April 2009, the Company and Bedford Energy, Inc. agreed to amend the Amended Bedford Agreement, the Company will
transfer to Bedford Energy a 2.25% carried interest in the Grace Wells #1, #2, #3 #5A, and #6 in exchange for cancellation of
the promissory note in the net amount of $390,000 plus accrued interest in the amount of $18,627."

So, it seems Bedford sold some interest in the Grace Wells for compensation which included a promissory note, then bought back some interest by canceling he note.

Since at least the Grace #2 is still producing, this should put a few coins in Bedford's coffers.