Avix Technologies Inc. Evaluates Investment Proposal With Oklahoma Oil Producer
02 July 2010 - 2:00AM
Marketwired
Avix Technologies Inc. (PINKSHEETS: AVIXD) is
reviewing a proposal from a producing oil operator in Oklahoma that
has existing revenues from ongoing sales to local refineries in the
area and access to wells with proven oil reserves. Avix would
provide an initial investment to the operator to finance the
re-working of the wells and bring them up into production. Avix
would receive monthly production payments from the sale of oil
delivered to all refineries.
The proposal includes an option to purchase up to 4,000,000 bbls
of Oklahoma sweet crude oil. This would be new oil production with
revenues re-invested to finance ongoing well renewal.
The Oklahoma oil fields are part of the huge Mid-Continent Oil
Region that stretches from central Texas across Oklahoma to eastern
Kansas.
More than 8.804.000,000 barrels of crude were pumped from the
various pools of the Mid-Continent Region from 1900 to 1935.
Increased oil prices earlier this decade brought increasing
interest in primary and secondary oil production in the state.
The oil price collapse in 2008 brought numerous opportunities
for well-capitalized companies across Oklahoma to purchase rights
to develop oil fields. These wells can now be brought back up to
production with proven oil reserves producing for approximately 10
years.
The company will provide further information regarding the
proposal in future press releases.
www.avixt.com
About Avix Technologies Inc.
At Avix Technologies we endeavor to
continually fulfill the energy requirements of today and the
future. By partnering with various organizations and individuals
committed to the exploration, development, and production of our
domestically-abundant natural resources. Our primary focus is
investing in demand commodities such as crude oil and natural gas.
Avix's ongoing initiative is to allocate a
percentage of revenues attained from oil and gas profits to develop
and or invest in viable renewable energy solutions and
opportunities that exhibit existing market attention.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements in this release that are forward-looking
statements are based on current expectations and assumptions that
are subject to known and unknown risks, uncertainties, or other
factors which may cause actual results, performance, or
achievements of the company to be materially different from any
future results, performance, or achievements expressed or implied
by such forward-looking statements. Actual results could differ
materially because of factors such as the effect of general
economic and market conditions, entry into markets with vigorous
competition, market acceptance of new products and services,
continued acceptance of existing products and services,
technological shifts, and delays in product development and related
product release schedules, any of which may cause revenues and
income to fall short of anticipated levels. All information in this
release is as of the date of this release. The company undertakes
no duty to update any forward-looking statement to conform the
statement to actual results or changes in the company's
expectations.
Contact: Garret Reid Investor Relations Avix Technologies Inc.
214-541-9013 inquire@avixt.com
Avix Technologies (CE) (USOTC:AVIX)
Historical Stock Chart
From Jan 2025 to Feb 2025
Avix Technologies (CE) (USOTC:AVIX)
Historical Stock Chart
From Feb 2024 to Feb 2025