Avalon oil and gas owns %86 of oiltek inc! The new shell will be trading on the OTCBQ boards shortly & current AOGN shareholders will be granted a % of "Free Trading Stock " as well as a healthy DIVIDEND The news shells share structure:
Authorized - 10,000,000
Outstanding - 5,000,000
IPO price - $1.00
Information regarding Oilteks business plan and innovative Technology will be made public shortly.
. . The Fossiltek acquisition
* “We are currently negotiating a Purchase Agreement and Sale Agreement and a Joint Operating Agreement to purchase non-operating working interests in five (5) producing oil wells and thirty-three (33) producing gas wells. The properties are located in the Anadarko Basin of Western Oklahoma, in the counties of Roger Mills, Grady, Caddo, Custer, Blaine, and Beckman and are currently producing six barrels of oil and three hundred thousand mcf of gas per day!
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