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Avalon Oil & Gas, Inc. engages in the acquisition of producing oil and gas properties in the United States. It holds 50% working interest in the J.C. Kelly wellbore, a 121.9 acre lease in Wood County, Texas; the E.A. Chance wellbores, a 40 acre lease in Camp County, Texas; 50% working interest in the Dixon Heirs, Deltic Farms and Timber, the Gunn wells, and associated units and leases, in Miller County, Arkansas; 10% working interest in 13 wellbores located in Upshur County, Texas; 25% working interest in a six well production property located in Grant Parish, Louisiana; and 15% working interest in the Janssen prospect in Karnes County, Texas. The company also holds 20% interest in the Talora Block and 15% interest in the Mecaya Block. Avalon Oil & Gas, through its subsidiaries, owns licenses for the mitigation of paraffin wax deposition from crude oil using ultrasonic waves; borehole casing technology; and to a system for determining the presence and location of leaks in underground pipes. Avalon Oil & Gas, Inc. has a strategic alliance with UTEK Corporation to develop a portfolio of new technologies for the oil and gas industry. The company is based in Minneapolis, Minnesota.
| STRATEGY | | Avalon Oil & Gas, Inc. is an oil and gas company that acquires and develops oil and gas producing properties. The Company invests in underdeveloped oil and gas properties that have stable cash flows. Avalon is not an exploration company. It does not drill exploration wells. In addition to building a strong portfolio of oil and gas producing properties, Avalon is acquiring innovative oil and gas production enhancement technologies. | | PROVEN PERFORMANCE | | Avalon has demonstrated rapid growth and development, from asset acquisition to operational profitability. - Solid balance sheet
- Net tangible assets above current market value
- Market capitalization of approximately $3.5 million
- Successful workover strategy to enhance production revenues
- Quarterly revenue growth
| | FUTURE GROWTH | Avalon will continue to invest in underdeveloped oil and gas producing properties, add to its portfolio of assets in Colombia, acquire additional innovative oil and gas enhancement technologies, and complete the spin-off of Oiltek, Inc. Management expects to continue its asset and revenue growth for the next several quarters and increase shareholder value. | | COLOMBIA | Avalon has recently completed the acquisition of a 20% interest in the Talora Block and a 15% interest in the Mecaya Block in Colombia, a country of significant oil development opportunities. Strong economic growth, attractive fiscal terms and robust infrastructure all contribute to Colombia's compelling oil and gas investment potential. The 108,333 acre Talora block is located in the Middle Magdalena Basin, approximately 75 km west of the capital city of Bogota. This prolific area is adjacent to and on trend with several producing oil fields, including the 117 million barrel Guando field operated by Petrobras. The 74,000 acre Mecaya Block is in the Putumayo Basin. This Block contains the Mecaya #1 oil discovery and two other wells that have tested oil. The Mecaya #1 was drilled in 1989 by the Colombian National Oil Company, Ecopetrol. The Mecaya #1 well tested approximately 650 BOPD of 27° API oil, with no water at a stable flow rate over a period of 24 hours. At the time of drilling, the Mecaya well was a considerable distance from infrastructure. With oil prices much lower than they are today, the development was considered too small (at 5 MMBO) to meet Ecopetrol's economic threshold in 1989. Today's market conditions are favorable to this development, with oil produced in this area having a netback of approximately $70.00 per barrel. Current development plans are to build an access road, re-enter the Mecaya well, put it on production, and produce the approximately 5 million barrels of recoverable oil as mapped by Ecopetrol. | | Management | Avalon's management team has extensive and diversified business and industry experience, is focused on building a portfolio of premium properties and technologies, and increasing shareholder value. Kent Rodriguez Chief Executive Officer
- Company founder and controlling shareholder
- 27 years experience in oil and gas, commercial banking, and venture capital
- BA in geology, Carleton College
- Executive MBA, Harvard Business School
Jill Allison, Vice President - 23 years diversified management experience in business development and technology commercialization
- BA in economics, Gustavus Adolphus College
- MIM, American Graduate School of International Management
- MBA in strategic and entrepreneurial management, Wharton School, University of Pennsylvania
Steve Newton, Director - 33 years experience in global energy venture development, petroleum exploration and production
- Former CEO of Solana Petroleum and VP of Occidental Petroleum Worldwide
- Ms.C. in petroleum engineering, Imperial College, University of London
- BE in mining and petroleum engineering, University of Queensland
Menno Wiebe, Director - 35 years of industry experience as geologist and manager of international exploration and development projects
- Former Senior Project Geologist with Occidental Petroleum, Conoco-Phillips, Husky Oil, Bow Valley Industries
- BS in geology, University of Manitoba
- MBA, University of Warwick
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AOGN:
This call was made
on 06/30/08
@ $0.102
| Rating: |
$0.102 (06/30/08)
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| Gain/Loss: |
n/a
in
523 days
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