MINNEAPOLIS, April 18, 2012 /PRNewswire/ -- Avalon Oil and
Gas, Inc. (Avalon) (OTCBB: AOGN) announced the formation
of a joint venture to acquire oil and gas producing properties in
Oklahoma, with Blair Oil Company,
a Kingfisher, Oklahoma, based
independent oil and gas producer; Zacale Resources Company, an
Edmond, Oklahoma, based petroleum
land management company; and Foy Streetman, a Chickasha, Oklahoma, based independent oil and
gas producer.
"We are excited to enter into this joint venture; together our
partners have over one hundred twenty-five years experience in the
oil and gas industry," said Avalon's CEO, Kent Rodriguez. "With natural gas prices
approaching price levels not seen since 1995, and oil prices stable
above $100 per barrel, we feel this
is a very attractive entry point for the energy industry," added
Foy Streetman. Kent Blair
said, "We are seeing several acquisition opportunities for oil
properties and dry and liquid gas properties through western and
central Oklahoma."
Avalon also announced a new social media presence that
streamlines company information and to communicate the progress of
this joint venture to our shareholders. "We are excited
to expand our social media networks to connect with the global
investment community," added Mr. Streetman.
About Avalon Oil & Gas, Inc.:
Avalon Oil & Gas, Inc. is an independent oil and gas company
engaged in the acquisition of producing oil and gas properties in
Louisiana, Texas, Arkansas, Kansas, and Oklahoma. In addition, Avalon's technology
group acquires and develops oil production enhancing technologies.
Through Oiltek, Inc., Avalon's majority-owned subsidiary, Avalon is
building an asset portfolio of innovative green energy technology
assets.
Forward-Looking Statements
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of Avalon Oil & Gas, Inc., and members of
its management as well as the assumptions on which such statements
are based. Those statements are subject to the risk factors and
other information set forth in the Company's filings with the
Securities and Exchange Commission. Prospective investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those contemplated by such forward-looking statements. The Company
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, please
visit www.avalonoil.com.
For Investor Relations inquiries, please contact:
www.alphaexclusive.com
SOURCE Avalon Oil & Gas, Inc.