Avro Energy Updates Events At Muslow Leases
September 15, 2009 (FinancialWire) — Avro Energy, Inc. (OTCBB: AVOE) announced that further to the company’s news releases dated September 9, 2009, where the company announced the proposed acquisition of two producing and six non-producing wells of the Muslow A, B, and C Leases, Donny Fitzgerald, the company’s director and Manager of Operations, has been in meetings with electrical down-hole pump manufacturers to put the non-producing wells from the Muslow A, B, and C Leases back into production.
While the idea of electrical down-hole pumps is not new, it is a far more advanced system than the pump jacks which are currently in use in the area, and to this end, the company feels that by switching the equipment over to electrical pumps, it will be able to produce more volume with less costs over time. The company’s objective is to be able to produce the 6 non-producing wells on the Muslow A, B, and C Leases, when they are brought into production at a lower cost so as to increase the net revenue.
With the proposed acquisition of the Muslow Leases, the company is staying 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, these 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.
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