MIAMI, Jan. 20, 2005 (PRIMEZONE) -- Stock Market Alert's watch list includes: Avalon Gold Corporation (OTCBB:AVGC), Oracle Corporation (Nasdaq:ORCL), BEA Systems, Inc. (Nasdaq:BEAS) and Juniper Networks, Inc. (Nasdaq:JNPR).
Avalon Gold Corporation (OTCBB:AVGC) issued a press release that may get investor's attention. Late yesterday afternoon, the company announced that it will be forming an Advisory Board of Directors consisting of engineers, specialists in the field of oil and gas and individuals with experience in financing and developing projects similar to the Uinta Basin Project. Before the news was released, the company's stock closed at twenty-seven cents a share.
The press release stated that the company completed its purchase of an undivided 85% working interest in a giant gas field lease comprising 13,189 acres in the prolific natural gas producing Uinta Basin, located in the U.S. Rockies, Utah. There is a potential 4 TCF recoverable gas and is overpressured by a 0.55 -- 0.85 gradient.
The company plans to change its name to Avalon Energy Corporation in the first quarter of 2005 to better reflect the direction of the Company. "Since the Company's main focus is in oil and gas, that is, the LAK Ranch Oil Field in Wyoming and the Uinta Basin Overpressured Gas Field in Utah, the change in name is appropriate," states Carlton Parfitt, President of the Company.
Other stocks of interest yesterday were: Oracle Corporation (Nasdaq:ORCL) down 2.2% on 50.8 million shares traded, BEA Systems, Inc. (Nasdaq:BEAS) up 2.2% on 19.7 million shares traded and Juniper Networks, Inc. (Nasdaq:JNPR) down 2.6% on 24.5 million shares traded.
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