MINNEAPOLIS, Oct. 1, 2013 (GLOBE NEWSWIRE) -- Avalon Oil & Gas, Inc., (OTCQB:AOGN) announced that the workovers on the Dixon # 1 and the Deltic Farms # 1, Kiblah Field, Miller County, Arkansas have been successfully completed.
The workovers to remove the paraffin build-up were completed by pulling the rods and tubing from the wellbores, steam cleaning them, and then sand bailing the bottom of the wellbores to remove debris. These wells were originally drilled and completed in 1989. "We are pleased to have completed these workovers; current production from the Dixon well is 10 barrels of oil per day (BOPD) and the Deltic well is producing 4 barrels of oil per day," stated Avalon's President, Kent Rodriguez.
Avalon owns a fifty percent (50%) working interest in these two wells in the Kiblah field, they produce oil from the Tokio zone at an approximate depth of 3,000 feet. Rodriguez added, "The removal of the paraffin build-up should permit us to recover 15,900 barrels of oil of proven reserves; we expect to commence a workover on the Gunn # 1 in the next 30 days."
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. 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 the company's website at www.avalonoilinc.com, or contact:
Avalon Oil & Gas, Inc., Minneapolis
Kent Rodriguez, CEO
Source:Avalon Oil & Gas, Inc.