WEST SUSSEX, United Kingdom, July 24, 2009 (GLOBE NEWSWIRE) -- Avro Energy, Inc. (OTCBB:AVOE) is pleased to announce that it has entered into negotiations with a private oil and gas operator to acquire 11 oil wells and equipment on 800 acres of oil and gas leases located near Fouke, Miller County, Arkansas, USA. Past production in these wells have come from formations at depths of 3800 ft. and 6800 ft. Current production figures, well logs and a full equipment list have been requested from the operator. Once an agreement is reached on this the Company will issue a detailed news release setting out the terms of the agreement.
This potential acquisition is located approximately 30 miles north of the Company's previously announced pending operations in Hosston, Louisiana, in the ArkLaTex oil-producing region of the United States. The Company believes this acquisition will complement the Company's proposed operations, as well as allow for the sharing of resources, equipment, personnel and management.
About the ArkLaTex Oil-Producing Region
The ArkLaTex is a U.S. socio-economic region where Arkansas, Louisiana, Texas, and Oklahoma intersect. The region is centered on the Shreveport/Bossier metropolitan area in Northwest Louisiana. The region's history is heavily linked with the oil industry. The geology associated with the deposition of sediments from the Mississippi River, in particular, makes this area an abundant source for the oil and gas industries, which leads to the high levels of oil production within the region.
About Avro Energy, Inc.
Avro Energy Inc. is an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties in North America. Avro's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent low risk opportunities for the Company and its shareholders. In addition, Avro aims to seek larger projects that can be developed and produced with Joint Venture partners. More information about the Company is available at its corporate website at http://www.avroenergy.com.
Forward-Looking Statements
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The OTC BB has not reviewed or does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.