VIVIAN, La., Jan. 4, 2010 (GLOBE NEWSWIRE) -- Avro Energy, Inc. (OTCBB:AVOE) is pleased with its results from the last quarter of the Company's operations ending December 31, 2009. The Company is currently preparing its year end financial statements for public disclosure, at which time complete and accurate audited revenue results will be posted as required.
The Company has every expectation to continue to increase its production in the coming quarter. The Company's consulting geologist has reviewed the well logs from five of the Company's wells in South Arkansas, and has made a recommendation to perforate new zones of interest to increase production on these wells. The Company plans to commence a work program to perforate these new zones of interest in the next seven days. The Company will provide additional information to its shareholders as it becomes available.
As previously disclosed, the Company continues to negotiate with a major Houston, Texas based Oil and Gas company for the purpose of developing a joint venture in North Louisiana. The Company is working diligently to come to a final Joint Venture agreement.
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, with the eventual goal of becoming a junior oil and gas company.
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.
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.