Avalon Oil & Gas Reports Strong Q2 Revenues
December 7, 2007
Avalon Oil & Gas has reported oil and gas revenues of $57,342 for the second quarter of 2007, a 33% increase compared to $42,964 in the same period of 2006.
Total revenues for the first half of 2007 increased to $0.1 million from $6,090 for the corresponding period in the previous year, an increase of 1,547%.
Total shareholders equity increased to $2.34 million from $2.09 million at the end of the second quarter last year, an increase of 12%.
Kent Rodriguez, CEO of Avalon, said: “This was a very strong quarter for Avalon as we continue to expand our portfolio of oil and gas producing properties. Avalon’s investment portfolio now includes production assets of 44 producing oil and gas wells in five states.”