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From redacted@cybernothing.org Sat Nov 20 17:15:15 2004
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From: "Florence Jacobs" <redacted@yahoo.com>
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Subject: Featured SmallCap Company
Date: Sun, 21 Nov 2004 05:02:58 +0600
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AVALON ENTERS INTO AN AGREEMENT FOR JOINT VENTURE IN "GIANT" OVERPRESSURED GAS
PROSPECT IN U.S. ROCKIES
IMMEDIATE NEWS RELEASE: AVGC **** AVGC ***********
November 12, 2004: Avalon Gold Corporation (OTC BB: AVGC) announces it has entered
into an agreement with Golden Spirit Mining Ltd. (OTC BB: GSML) to sell a 40%
working interest in a giant gas field lease in the Uinta Basin, located in the US
Rockies, Utah. Upon signing of the agreement, Golden Spirit will issue 1,000,000
common shares 144-Registered as a non-refundable deposit to Avalon. Golden Spirit
has a right to acquire the 40% working interest in the gas lease upon Avalon
receiving a payment of US$750,000 on or before December 10, 2004. In return,
Avalon will issue and deliver 2,000,000 shares of its common stock to Golden Spirit.
The lease area, located in the Uinta Basin, comprises 13,189 acres with a potential
4 TCF recoverable gas and is overpressured by a 0.55 0.85 gradient.
According to available data in the area, the prospect property has been delineated
using several hundred miles of seismic. The seismic data confirms the thick Emery
pay section and shows several sediment wedges in the prospect area. "We feel the
data supports a basin wide deep gas accumulation covering the entire field," states
Robert Waters, President of Avalon Gold. This giant gas lease borders other leases
owned by EOG Resources Inc. (NYSE: EOG) and EnCana Corp (TSE: ECA.TO; NYSE: ECA).
Major energy companies today recognize that tight gas reservoirs, where geological
formations make production complex, and coal-bed methane, where gas is extracted
from coal deposits, are two of the more important near term sources to boost North
American production of natural gas as demand outstrips supply and drives up prices.
The US Geological Survey estimated (in 1995) basin-center and deep-basin gas
resources in the Rocky Mountain Laramide basins to be 250 TCF. The Drunkards Wash
Field, just south of the prospect area is estimated to have between 2-4 TCF of
recoverable gas. The Jonah Field Overpressured Gas Plain, which is analogous to our
prospect area, has similar overpressuring, depth, reservoir rocks and is estimated
to be 2.5+ TCF.
----21617977723721474604--
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Subject: Featured SmallCap Company
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----21617977723721474604
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AVALON ENTERS INTO AN AGREEMENT FOR JOINT VENTURE IN "GIANT" OVERPRESSURED GAS
PROSPECT IN U.S. ROCKIES
IMMEDIATE NEWS RELEASE: AVGC **** AVGC ***********
November 12, 2004: Avalon Gold Corporation (OTC BB: AVGC) announces it has entered
into an agreement with Golden Spirit Mining Ltd. (OTC BB: GSML) to sell a 40%
working interest in a giant gas field lease in the Uinta Basin, located in the US
Rockies, Utah. Upon signing of the agreement, Golden Spirit will issue 1,000,000
common shares 144-Registered as a non-refundable deposit to Avalon. Golden Spirit
has a right to acquire the 40% working interest in the gas lease upon Avalon
receiving a payment of US$750,000 on or before December 10, 2004. In return,
Avalon will issue and deliver 2,000,000 shares of its common stock to Golden Spirit.
The lease area, located in the Uinta Basin, comprises 13,189 acres with a potential
4 TCF recoverable gas and is overpressured by a 0.55 0.85 gradient.
According to available data in the area, the prospect property has been delineated
using several hundred miles of seismic. The seismic data confirms the thick Emery
pay section and shows several sediment wedges in the prospect area. "We feel the
data supports a basin wide deep gas accumulation covering the entire field," states
Robert Waters, President of Avalon Gold. This giant gas lease borders other leases
owned by EOG Resources Inc. (NYSE: EOG) and EnCana Corp (TSE: ECA.TO; NYSE: ECA).
Major energy companies today recognize that tight gas reservoirs, where geological
formations make production complex, and coal-bed methane, where gas is extracted
from coal deposits, are two of the more important near term sources to boost North
American production of natural gas as demand outstrips supply and drives up prices.
The US Geological Survey estimated (in 1995) basin-center and deep-basin gas
resources in the Rocky Mountain Laramide basins to be 250 TCF. The Drunkards Wash
Field, just south of the prospect area is estimated to have between 2-4 TCF of
recoverable gas. The Jonah Field Overpressured Gas Plain, which is analogous to our
prospect area, has similar overpressuring, depth, reservoir rocks and is estimated
to be 2.5+ TCF.
----21617977723721474604--
-------------------------------- END FORWARDED SPAM --------------------------------
--
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For a copy of the guidelines to this group, see:
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