MINNEAPOLIS, Sept. 17, 2015 (GLOBE NEWSWIRE) -- Avalon Oil and Gas, Inc. (Avalon) (OTCQB:AOGN) today announced the company is current with its filings, having filed Form 10-K for the year ended March 31, 2015 on August 14, 2015 and its 10-Q for the quarter ended June 30, 2015 on September 10, 2015. June 30, 2015 financial highlights include an increase in shareholder equity to $1,943,854 and a reduction in debt to $204,300.
Kent Rodriguez, Avalon’s CEO, commented, "We continue to develop our portfolio of oil and gas properties and leverage our relationship with IP Technology Exchange, Inc. to license oil and gas related technologies."
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Avalon Oil & Gas, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, please visit the company’s website at www.avalonoilinc.com, or contact:
Avalon Oil & Gas, Inc.
Kent Rodriguez, CEO
(September 17, 2015 - 7:00 AM EDT)
Hedging programs that E&Ps have in place in 2016 vary considerably. The chart below shows the range of oil and gas production for several E&Ps covered by hedging contracts. Pioneer Natural Resources (ticker: PXD) and Cimarex Energy (ticker: XEC) have hedged the largest portions of their remaining production at 85/75 and 80/90 percent, respectively, for oil and gas. This chart[Read More…]
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