AVG Avidian Gold Corp

Avatar Energy Ltd. ("Avatar" or the "Corporation") (TSX VENTURE:AVG) is pleased
to provide shareholders with an operational update on recent drilling activity
and land acquisitions in the Pembina area.


Avatar has recently completed its second horizontal well for the first quarter
of 2011, the first to be located on its East Pembina Cardium lands (65% WI net
to the Corporation). The well has 1,220m of horizontal section and was
stimulated with a 15 stage oil-based fracture treatment. The well was placed on
production March 28, 2011 with initial production rates of approximately
1m3/hour (150 bbls/day). The well has since stabilized at approximately 60
bbls/day. Management is using these encouraging results to further enhance the
company's drilling program with respect to well design and completion
procedures.


In addition to this drilling success, Avatar has acquired an additional 4.0
sections of contiguous land offsetting the Corporation's recent drilling
activity. Avatar's working interest in this additional acreage is 100% bringing
its total land holdings in the East Pembina area to 8.5 gross sections (6.39 net
sections).


The addition of the new land position provides Avatar with an increase of 10
additional horizontal drilling locations. Avatar currently has 25 proposed
horizontal drilling locations in its total portfolio located on its operated
land in the East Pembina area.


FORWARD LOOKING STATEMENTS

This press release contains forward looking statements. More particularly, this
press release contains statements concerning future drilling plans, proposed
acquisition strategies, use of available funds and the likelihood of successful
future results. Although the Corporation believes that the expectations
reflected in these forward looking statements are reasonable, undue reliance
should not be placed on them because the Corporation can give no assurance that
they will prove to be correct. Since forward looking statements address future
events and conditions, by their very nature they involve inherent risks and
uncertainties. The risks to which the Corporation is subject include, but are
not limited to, operational risks inherent in the exploration, development and
production of oil and gas; availability of financing; general economic
conditions and changes in the capital markets; volatility of oil and gas prices;
competition; and changes in legislation and the regulatory environment. The
forward looking statements contained in this press release are made as of the
date hereof and the Corporation undertakes no obligations to update publicly or
revise any forward looking statements or information, whether as a result of new
information, future events or otherwise, unless required by applicable
securities laws.

Avidian Gold (TSXV:AVG)
Historical Stock Chart
From Jan 2025 to Feb 2025

Avidian Gold (TSXV:AVG)
Historical Stock Chart
From Feb 2024 to Feb 2025