AOGN News Avalon Enters Into Joint Venture to Ac

AOGN News Avalon Enters Into Joint Venture to Acquire Oklahoma Oil and Gas Properties

2012-04-18 09:15 ET - News Release

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.