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

^{Published on 2009-07-29 05:26:09, Last Modified on 2009-07-29 05:26:24 - Market Wire}
 

BEVERLY HILLS, CA--(Marketwire - July 29, 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 over 800 acres and 8 shallow producing oil wells. These long-life wells are located in north eastern Kentucky and are each producing from 3 to 20 bbls oil per day. The acquisition shall be an all stock transaction valued between the parties at approximately $5,000,000.

Mr. Sterling, PVRE President, stated, "This continues the Company's plan to build assets and shareholder value through the acquiring of producing properties with future well development locations. This will secure PVRE continued increasing cash flows, in-ground Proven Reserves, and additional future prospects."

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 complete the transaction and commence generating income in the next quarter.

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.