VIVIAN, La., Feb. 2, 2010 (GLOBE NEWSWIRE) -- Avro Energy, Inc. (OTCBB:AVOE) is pleased to announce it has entered into negotiations to acquire a deep well in Northeastern Louisiana. This well was originally drilled to the Smackover Formation at 11,000 feet. In the drilling of this well, the Operator also encountered the Haynesville Formation (http://www.loga.la/drilling.html), the Cotton Valley Formation (http://haynesvilleshales.com/cottonvalley.html) from 9100-9700 feet, the Hooston at 8100 feet, the Travis Peak at 6400 feet, and the Hillsand of the Rodessa Formation at 4800 feet. The Company will provide further announcements about the well as negotiations continue.
In addition to these negotiations, the Company is continuing its workover operations on its wells in South Arkansas. The Company plans to put additional wells on production in the coming weeks, and will continue to update its shareholders as these wells are put into production.
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. Alternatively, shareholders can call the Company directly at 318-734-4737 or send an email to avroenergy@gmail.com.
Forward-Looking Statements
Cautionary Note to U.S. Investors -- We may use certain terms in our press releases and on our website such as "will,'' "anticipates,'' "believes,'' "plans,'' "goal,'' "expects,'' "future,'' “retained”, “valuation”, “potential”, "interested,'' and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. You can review and obtain copies of our filings from the SEC's website at http://www.sec.gov/edgar.shtml.
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.