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Avondale Resources Corporation Releases Crude Oil Reserves of Creek County Lease

Posted on: Wednesday, 26 April 2006, 18:00 CDT

Avondale Resources Corporation (Pink Sheets:ANDL) announced today an engineering reserve and economic evaluation report, completed April 14, 2006, on the Cottonwood Unit, estimates crude oil reserves to be 950,830 barrels. The Cottonwood Unit consists of 1800 lease acres, more or less, and approximately 125 wells. Currently less than 15% of the wells are operating with total production of about 20 barrels of oil per day. Plans for the Cottonwood may change due to the suggestions in the engineering report and the Company may proceed with the development of a waterflood program and well work-overs as capital for such development allows.

Avondale Resources Corporation is an oil and gas exploration company actively seeking to acquire and develop additional oil and gas properties in Kansas and Oklahoma. Company plans are to develop oil and gas assets through enhancement of mature fields, marginal wells and close-in drilling.

CERTAIN STATEMENTS IN THIS NEWS RELEASE MAY CONTAIN FORWARD- LOOKING INFORMATION WITHIN THE MEANING OF RULE 175 UNDER THE SECURITIES ACT OF 1933 AND RULE 3b-6 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AND ARE SUBJECT TO THE SAFE HARBOR CREATED BY THOSE RULES. ALL STATEMENTS, OTHER THAN STATEMENTS OF FACT, INCLUDED IN THIS RELEASE, INCLUDING, WITHOUT LIMITATION, STATEMENTS REGARDING POTENTIAL FUTURE PLANS AND OBJECTIVES OF THE COMPANY, ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. TECHNICAL COMPLICATIONS THAT MAY ARISE COULD PREVENT THE PROMPT IMPLEMENTATION OF ANY STRATEGICALLY SIGNIFICANT PLAN(S) OUTLINED ABOVE. THE COMPANY CAUTIONS THAT THESE FORWARD-LOOKING STATEMENTS ARE FURTHER QUALIFIED BY OTHER FACTORS. THE COMPANY UNDERTAKES NO OBLIGATIONS TO PUBLICLY UPDATE OR REVISE ANY STATEMENTS IN THIS RELEASE, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

Source: Business Wire

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