Avalon Oil & Gas, Inc. (AOGN.OB) Management Pleased With Energy Pricing and Development Opportunities
Avalon Oil & Gas, Inc., an independent oil and gas investment company, today told investors that the recent price rally in oil is encouraging for the industry as well as for Avalon’s near term acquisition plans. “Since December, we’ve seen oil prices pass one ceiling after another, going from $33 per barrel to more than $72 per barrel,” commented Kent A. Rodriguez, Avalon’s CEO. “This translates into significant improvement in margins for producers like us,” he added. “Our shareholders benefit as well, as our oil reserve assets are valued in excess of $8,000,000 in this environment.” He continued, “During the…