updated 11/8/2010 9:16:55 AM ET 2010-11-08T14:16:55

VIVIAN, La., Nov. 8, 2010 (GLOBE NEWSWIRE) -- Avro Energy, Inc. (OTCBB:AVOE) ("the Company") continues to work on its wells in North Louisiana and South Arkansas. As the Company management works full-time maintaining the Company's producing wells, we understand that this does not give a lot of time to the Company's management to keep each shareholder updated on a daily basis. However, the Company is working diligently to work toward being able to perforate wells in prospective zones found by "Through The Pipe Well Logging Technology", that should add additional production to the Company's bottom line. The Company's primary focus is its wells in South Arkansas, and the Company continues to negotiate to acquire additional wells in this area. 

In addition, the Company is pleased to announce that it is negotiating with a Canadian natural gas company with the purpose of coming to an agreement to acquire a working interest in a previously-drilled deep test well in Northern Canada. The divestiture package includes 6000 acres of oil and gas leases. The well and property is located approximately 1,000 miles north of the U.S. border.

The Company has retained an experienced geophysicist from Calgary, Alberta, Canada, to review all well logs and 3D seismic available on this project, and has asked for the geophysicist to provide a detailed review of the property prior to January 30, 2011. 

This Canadian project would require the company to raise the funding necessary to further test the well and to build a small natural gas pipeline to hook into a larger pipeline that is currently located along the Alaska Highway.  If successful in its negotiations, the Company plans to acquire this interest through a corporate divestiture from the Canadian natural gas company.

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, and providing oilfield services, primarily in the ArkLaTex region of 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, with the eventual goal of becoming a junior oil and gas company. 

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 info@avroenergy.com.  

Safe Harbor Statements

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. You should not place undue reliance on forward-looking statements in this press release. You can review and obtain copies of our filings from the SEC's website at http://www.sec.gov/edgar.shtml. The OTCBB 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, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.71%
$30K home equity loan FICO 5.26%
$75K home equity loan FICO 4.70%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.14%
17.14%
Source: Bankrate.com