[forum] Hot Shot Stock Info

[Jamie]

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They aren't enjoying running.
If a million people say a foolish thing, it is still a foolish thing.	-Anatole France [Jacques Anatole Thibault] (1844-1924)	

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AVALON ENTERS INTO AN AGREEMENT FOR JOINT VENTURE IN =93GIANT=94 OVERPRESS=
URED GAS
PROSPECT IN U.S.  ROCKIES

 

IMMEDIATE NEWS RELEASE: AVGC **** AVGC ***********=0A 

November 12, 2004: Avalon Gold Corporation (OTC BB: AVGC) announces it has=
 entered
into an agreement with Golden Spirit Mining Ltd. (OTC BB: GSML) to sell a =
40%
working interest in a giant gas field lease in the Uinta Basin, located in=
 the US
Rockies, Utah.   Upon signing of the agreement, Golden Spirit will issue 1=
,000,000
common shares 144-Registered as a non-refundable deposit to Avalon.  Golde=
n Spirit
has a right to acquire the 40% working interest in the gas lease upon Aval=
on
receiving a payment of US$750,000 on or before December 10, 2004.   In ret=
urn,
Avalon will issue and deliver 2,000,000 shares of its common stock to Gold=
en Spirit.

 

The lease area, located in the Uinta Basin,  comprises 13,189 acres with a=
 potential
4 TCF recoverable gas and is overpressured by a 0.55 =96 0.85 gradient.

 

According to available data in the area, the prospect property has been de=
lineated
using several hundred miles of seismic.  The seismic data confirms the thi=
ck Emery
pay section and shows several sediment wedges in the prospect area.  =93We=
 feel the
data supports a basin wide deep gas accumulation covering the entire field=
,=94 states
Robert Waters, President of Avalon Gold.  This giant gas lease borders oth=
er leases
owned by EOG Resources Inc. (NYSE: EOG) and EnCana Corp (TSE: ECA.TO; NYSE=
: ECA).

 

Major energy companies today recognize that tight gas reservoirs, where ge=
ological
formations make production complex, and coal-bed methane, where gas is ext=
racted
from coal deposits, are two of the more important near term sources to boo=
st North
American production of natural gas as demand outstrips supply and drives u=
p prices.

 

The US Geological Survey estimated (in 1995) basin-center and deep-basin g=
as
resources in the Rocky Mountain Laramide basins to be 250 TCF.  The Drunka=
rds Wash
Field, just south of the prospect area is estimated to have between 2-4 TC=
F of
recoverable gas.  The Jonah Field Overpressured Gas Plain, which is analog=
ous to our
prospect area, has similar overpressuring, depth, reservoir rocks and is e=
stimated
to be 2.5+ TCF.

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