VIVIAN, La., Aug. 31, 2009 (GLOBE NEWSWIRE) -- Avro Energy, Inc. (OTCBB:AVOE) is pleased to announce that in furtherance of the Company`s goal of becoming a significant producer of hydrocarbons in the ArkLaTex region of Louisiana, the Company has signed an option agreement for the purchase of 180 produceable oil wells from a private Louisiana oil and gas operator. These 180 wells are currently perforated in the Nachatosh formation, and the purchase will include all of the oil production and work-over equipment of the operator. The oil leases covered in the agreement are subject to a 20% overriding royalty. Under the terms of the agreement, the option is to be exercised on or before October 30, 2009.
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.