MINNEAPOLIS, Aug. 4, 2011 /PRNewswire/ -- Avalon Oil & Gas, Inc., ("Avalon") (OTCQX: AOGN, OTCBB: AOGN) an independent oil and gas production company, today announced that the Company's shares are once again listed on the OTC Bulletin Board (OTCBB). Market maker ACAP Financial, Inc., (ACAP) received notice from FINRA (Financial Industry Regulatory Authority) that Avalon's May application for OTCBB listing of Avalon common stock was cleared effective July 25, 2011.
Avalon's CEO, Kent A. Rodriguez, said, "We appreciate the action taken by ACAP and FINRA to clear Avalon's OTCBB listing, and are pleased that Avalon investors today can see their shares trading on the familiar OTCBB. We remain committed to maintaining Avalon's status as a fully reporting public company whose stock trades on the OTCBB."
Kirk Ferguson, President of ACAP added, "We are happy to have provided this service to Avalon."
About Avalon Oil & Gas, Inc. Avalon Oil & Gas is an oil and gas company engaged in the acquisition and development of producing oil and gas properties. In addition, Avalon's technology group acquires and develops energy production enhancing technologies. Through Oiltek, Inc., Avalon's majority-owned subsidiary, Avalon is building an asset portfolio of innovative technologies in the energy industry to maximize enhancement opportunities. To learn more about Avalon, please visit: www.avalonoil.com.
About ACAP Financial, Inc. Registered as a corporation in the State of Utah since 1991, ACAP Financial, Inc. (ACAP) is a licensed securities broker and dealer specializing in over-the-counter securities. Headquartered in Salt Lake City, Utah, ACAP has a second office in Palatine, Illinois, a suburb of Chicago. ACAP is a member of FINRA and SiPC. Cleared and licensed to transact securities business in over 28 states, ACAP executes wholesale trading with other licensed securities brokers and dealers throughout the U.S. and executes retail trades for our customers. ACAP also assists emerging growth companies with private and/or public equity capital raises. www.acap-financial.com
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Avalon Oil & Gas, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, please visit the company's website at www.avalonoil.com
SOURCE Avalon Oil & Gas, Inc.