Avalon Releases Report of Gas and Oil Reserves

Avalon Oil & Gas, Inc., (Avalon) (OTCBB:AOGN) (FWB:A3MA.F) announced that the Company has over $3,000,000 in proven hydrocarbon reserves, as summarized in the Company’s Form 10-KSB filing for the year ending March 31, 2008. The 10-KSB references a commissioned reserve report of Avalon’s natural gas and oil holdings which was completed by Petroleum Consulting Services of Oklahoma. The reserve report details Avalon’s oil and gas investments and includes data on both current and future production.

Kent Rodriguez, Avalon’s CEO stated, “After reporting six consecutive quarters of revenue growth, and our spin-off of Oiltek we believe we are well on our way to showing the investment community that Avalon is a solid company with a strong asset base to support our growth projections. We are aggressively seeking to acquire working interests in oil and gas producing properties, and plan to complete the acquisition of the assets owned by Bedford Energy in Lincoln County, Oklahoma before the end of this month.”

Petroleum Consulting Services has provided reserve studies for public companies for over 32 years. The data used in the preparation of the reserve report was obtained from Avalon, Statistical Petroleum Information Services, the Texas Railroad Commission, the Arkansas Oil & Gas Commission, the Louisiana Department of Natural Resources, and the Oklahoma Corporation website.

About Avalon Oil & Gas, Inc.

Avalon Oil & Gas, Inc. is an oil and gas company engaged in the acquisition of producing oil and gas properties in Louisiana, Texas, Arkansas, Kansas and Oklahoma. In addition, Avalon’s technology group acquires and develops oil production enhancing technologies. Through Oiltek, Inc, Avalon’s majority-owned subsidiary, Avalon is building an asset portfolio of innovative technologies in the oil and gas industry to maximize enhancement opportunities.

Forward-Looking Statements

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.