Avro Energy Continues Work Programs in Northern Louisianaadmin
Avro Energy, Inc. announce that further to the Company’s news release dated September 9, 2009, regarding the acquisition of the Muslow and Caddo Levee Board Leases in Caddo Parish, Louisiana, the Company has deferred payment for the leases until November 20, 2009, at which time $35,000 is due and payable, and an additional $35,000 is due and payable on December 20, 2009. This extension allows for the Company to obtain a satisfactory title opinion, which it anticipates shortly.
Further to the Company’s news release dated October 6, 2009, the Company has put the Muslow #1 and Muslow #2 into production. Donny Fitzgerald, Manager of Operations for the Company, has continued to work on additional wells on the Muslow leases, and as this work progresses, the Company will keep its shareholders updated.
The Company continues to stay within its model of buying oil and gas leases in the ArkLaTex oil-producing region that have further prospects of increased production. Further to this end, the Muslow and Caddo Levve Board wells have zones of interest in the Nachatosh Formation. These leases include the deeper rights to the base of the Paluxy Formation which is prolific in the area.