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Pavilion Energy Resources, Inc.: Pavilion Energy Resources, Inc. (OTC: PVRE) Gas Wells Acquisition

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^{Published in Business and Finance on Thursday, July 23rd 2009 at 5:12 GMT, Last Modified on 2009-07-23 05:12:23 by Market Wire}  

BEVERLY HILLS, CA--(Marketwire - July 23, 2009) - Pavilion Energy Resources, Inc. (PINKSHEETS: [ PVRE ]) (the "Company") is pleased to announce it has signed a Letter of Intent with Leland Energy, Inc., a private oil & gas development company to acquire Working Interests in 13 natural gas wells in Fentress county, Tennessee. These wells, which were all drilled in late 2006 & 2007, are low pressure, long life gas wells with 2 separate engineering Reserve Reports that show over 8.5 BCF in recoverable reserves. The transaction will be an "all stock" acquisition and is subject to the approval of the Board of Directors and the Partners of both companies. The company expects to bring the wells back online and commence generating income in the next quarter.

This is another step in the progress of building an operating energy resource company and adding value for PVRE shareholders.

The Company's goal is to achieve short-term profitability from acquiring and producing onshore, quality natural gas, light and heavy oil properties that are either cashflow positive or near cashflow positive.

Please visit: [ http://www.pavilionenergyresources.com ]

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with resource exploration risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect PVRE's financial results is included in its filings with the Securities and Exchange Commission.