Avalon Oil Gas, Inc. (AOGN.OB) Acquiring Oil Production Enhancing Technologies
QualityStocks (July 8th, 2009) Writes:
Avalon Oil & Gas Inc. is an independent domestic oil and natural gas producer. The company has acquired a portfolio of leases in Texas, Oklahoma, Louisiana and Arkansas. Avalon’s strategy is to use efficient reservoir maintenance and innovative technology to generate stable cash flows for the company.
Avalon’s technology subsidiary acquires and develops oil production enhancing technologies from early stage licensing partners such as UTEK Inc. UTEK is a technology-transfer company that enables firms to rapidly acquire innovative technologies from universities and research laboratories worldwide.
To date, Avalon has acquired the license for two technologies. The first technology, licensed from the University of Wyoming, provides Avalon with exclusive rights to paraffin wax removal technology for improving oil production efficiency. The technology utilizes ultrasonic waves to mitigate deposits of paraffin wax from crude oil. This technology helps prevent precipitate from forming on production
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