AOGS .025
AOGS Avalon Oil and Gas, Inc. Closes Canadian County Oklahoma Lease Purchase
MINNEAPOLIS--(Business Wire)--Aug. 29, 2005--
Avalon Oil and Gas, Inc., (OTCBB:AOGS) announced today
that it has closed its purchase of a one hundred percent (100%)
working interest, seventy-eight percent (78%) net revenue interest, in
2,400 acres located in Canadian County, Oklahoma, from Sooner Trend
Leasing LLC, payable by delivering 48,000,000 Restricted Shares of the
Company's Common Stock. The leasehold is in the Sooner Trend Field in
Northwestern, Oklahoma.
With the purchase of this leasehold complete, Avalon and Crown
Exploration, Avalon's Joint Venture Partner, will commence development
of the acquired oil and gas leasehold, using new cost efficient
directional drilling technology provided by Weatherford Directional
Services, Inc. Crown Exploration's Geologist, Charles Crawford will
manage the drilling program for Avalon.
The Company is actively seeking to acquire and develop additional
oil and gas properties in Kansas and Oklahoma.
About Avalon Oil and Gas, Inc.
Avalon Oil and Gas, Inc., is committed to the exploration and
development of economical oil and gas reserves, and is focused on an
acquisition program targeting high quality and low risk prospects, in
Kansas and Oklahoma.
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information
presented herein constitutes forward-looking statements within the
meaning Safe Harbor Provisions of the Private Securities Litigation
Reform Act of 1995. These forward- looking statements involve known
and unknown risks, uncertainties and other factors which may cause
actual results, performance or achievements of the company to be
materially different from any future results, performance or
achievements expressed or implied by such forward looking statements.
Such factors include general economic and business conditions, the
ability to acquire and develop specific projects, the ability to fund
operations and changes in consumer consumption habits and other
factors over which Avalon Oil and Gas has little or no control. This
is material information only and is not an offer or solicitation to
buy or sell the securities.
Avalon Oil and Gas, Inc., Minneapolis
Kent Rodriguez, 612-359-9020
Fax: 612-359-9017
Copyright Business Wire 2005
29Aug05 12:59 GMT
Symbols:
us;AOGS
Source BW Business Wire
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