ANDL up 20% + / ANDL Newz:
TULSA, Okla., Oct 11, 2005 (BUSINESS WIRE) -- Avondale Resources Corporation (Pink Sheets:ANDL) announced the acquisition of approximately 720 acres of oil and gas leases located in Kingfisher and Canadian Counties in Oklahoma. The Themer Lease, Helda Johnson Lease, Cline Lease, and the Charles Gruntmeir Lease are located in Kingfisher County Oklahoma. The Kremier Lease is located in Canadian County Oklahoma. Evaluation of possible re-entry and re-completion of existing, non-producing, wells cause the Company to believe there are significant reserves left behind by past operators. Currently there is no production on these leases. The Company owns a 78% Net Revenue Interest in the Leases. Re-completion of these wells commences following the Company's raising sufficient capital for such re-completion.
About Avondale Resources Corporation:
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. For more information about the Company, please visit our website at: www.AvondaleResourcesCorp.com.
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 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.
