AOGN Looks like its going to explode in the am. Charts are showing this is going to pop with the MAC d line getting ready to cross the signal and the RSI line going into bullish territory. Also this is a nice low entry price at .006 imo this one could be trading back at .012-.015 or higher in no time at all. Lots of chatter about this one seeing news soon. Im hoping to see it in the am or by the close tmw. Remember to take your profits people!! All pigs will be slaughtered.Happy trading friends.. heres the latest news for ya.

Avalon Announces Results of First Phase of Workover in Lamar County, Mississippi

MINNEAPOLIS, May 26 /PRNewswire-FirstCall/ -- Avalon Oil & Gas, Inc., ("Avalon") (OTC Bulletin Board:AOGN.ob - News) announces it has completed the first phase of the workover of the Baxterville Field Prospect in Lamar County, Mississippi.. Avalon is purchasing an 18.75% working interest in the Baxterville Field Prospect from Bayside Petroleum Company, Inc. (Pink Sheets:BYSD.pk - News).The two hundred (200) acre leasehold contains three wellbores; two wells are equipped for production, and a salt water disposal well.

"We are excited to have completed the first phase of the workover of the Baxterville Field Prospect," said Avalon's CEO, Kent A. Rodriguez. "The salt water disposal well passed inspection. In addition a hot oil treatment to separate the oil and water in the three 200-barrel tanks was successful, and Plains Marketing completed a pick-up of oil. We plan to pull all existing downhole equipment, clean out the wellbore, run a gamma ray log, re-perforate the Upper Tuscaloosa zone, re-run tubing and test the flow rate for initial fluid entry rates on the Moody 31-9 #5, in the next few days," added Rodriguez.

The Baxterville Field spans over 13,000 acres, with more than 300 producing wells. The field has produced 262 million barrels of oil and 450 billion cubic feet of gas, primarily from the Tuscaloosa formation. The wellbores on the Baxterville Field Prospect have produced from the Lower Tuscaloosa Sand at a depth of 8,800 feet. The Tuscaloosa oil in this field has a very low gravity, around 17 API, and is produced with a large volume of salt water. The three wells have produced more than 500,000 barrels of oil and were producing 200 barrels of fluid, with a 5% oil cut, when they were shut-in in 2006.

Company Overview
Avalon Oil & Gas, Inc. (OTCBB: AOGN)

Avalon Oil & Gas, Inc., is an independent domestic oil and natural gas producer. The Company’s strategy is to use efficient reservoir maintenance and innovative technology to generate stable cash flows and production by acquiring a portfolio of oil and gas leases to generate asset growth, and to deliver a sustainable rate of return for our shareholders.

The current market environment for crude oil and natural gas has created an opportunity for the United States to reduce its dependence on unstable foreign sources of energy. Avalon is currently evaluating producing leases in southern Kansas, Oklahoma, Texas and Louisiana.

Overview

The price of crude oil and natural gas is the engine that drives the energy industry. In the late 1990’s, in the wake of the Asian economic downturn, oil prices sank to $10.00 per barrel. The slump drove many small independent oil and gas producers out of business and many of the large independent producers merged, resulting in a downturn of drilling activities. Oil service companies had fewer rigs to service, pipeline and storage companies had less oil and gas to transport and store, and refineries produced less gasoline and other petroleum products.

The global economy has rebounded in the new millennium. Demand for crude oil, natural gas and petroleum based products has soared in the United States, China and India. This increased demand for energy and the political turmoil in oil-producing regions has caused energy prices to soar and the industry has rebounded. The higher prices have reached most of the industry - producers, refiners, pipeline companies, equipment makers, oil field service providers, and gas station operators - which have all enjoyed new profits. Leading the charge are the world's largest integrated oil companies: Exxon Mobil, BP and Royal/Dutch/Shell. But aggressive domestic independent production companies, such as Avalon Oil & Gas, are also well-positioned to take advantage of improving prices.

Avalon Oil & Gas, Inc. focused on acquiring mature, oil and gas wells in Kansas, Oklahoma, Texas and Louisiana.

The Department of Energy's Office of Fossil Energy has reported there is the potential to meet the demand for an energy thirsty nation by recovering over 43 billion barrels of additional oil from currently stranded oil reserves and mature oil and gas wells in the United States. www.fossil.energy.gov

Developing these resources will provide significant revenues to state treasuries, provide thousands of additional domestic jobs, and improve the U.S. trade balance by reducing imports.