Avro Energy, Inc. has entered into negotiations to acquire oil and gas interests in Northern Louisiana, U.S.A. The Company's primary focus will be to acquire producing oil assets with the overall plan to re-complete the wells to increase production.
A director of the Company has operational experience in Northern Louisiana and has been involved in the Oil and Gas Industry for over 20 years. Such experience will be used by the Company to source and secure the most advantageous projects.
The Company believes that its current focus on oil is the right focus for the Company in the near term. Oil prices have recovered in the last few months and are expected to remain robust for the foreseeable future.