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Avalon Enters Into Joint Venture to Acquire Oklahoma Oil and Gas Properties
Avalon Oil & Gas (QB) (USOTC:AOGN)
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Today : Wednesday 18 April 2012
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."
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