2009-10-26-2009-09-30

To buy 100% WI in 1,500 net acres in Jefferson, Stephens counties, OK.

Avalon Oil & Gas Inc., Minneapolis, (OTCBB: AOGN) plans to acquire a 100% working interest (83% net revenue interest) in 1,500 net mineral acres in Jefferson and Stephens counties, Oklahoma, from an undisclosed seller for an undisclosed price. The leasehold has 26 wellbores that were producing 69 barrels of oil per day when shut-in in 1986. "We are excited to complete this acquisition and expect to commence a work-over program on the wellbores within the next 45 days," says Avalon CEO Kent A. Rodriguez. "Avalon is negotiating with several strategic partners."