new acquisitions

Hi All,

Been buying a few of these recently.

Things that attracted me are the acquisition(s):

* Ortynytska Special Permit:

- Re-entry of 3,533m well which was drilled but not completed in the 1993 where gas was discovered but well abandoned due to drilling problems, lack of funds, low gas prices at the time and not-so-good 1990's technology

- Field on trend with and 5km south of Zaluzhany field (134Bcf produced from 27 wells up to 1993 with total reserves at around 1Tcf)

- High gas price of USD$12/MCF with high demand for gas

- Low Royalties

- USGS estimates that 20-175 gas fields remain to be discovered, ranging from 6-400Bcf, in the Basin where Ortynytska is

- Access roads complete

-- Funds already allocated for connection to the gas pipeline, which tells what they expect from the project


* Balochnya project (producing oil asset):

- Newly completed access road

- Hosts two producing oil wells

- Close to oil and gas pipelines

- 2D seismic shot and preliminary estimates indicate potential for significant resources


* Independent petroleum consultant to prepare a resource assessment of all its Ukrainian interests.


* Raising $3M at 0.005c which is a 25% premium to the current share price.


* Share issued in consideration for the acquisition are escrowed for 12 months.


SP at all-time lows, tiny market cap and about to be cashed up, there is a busy schedule coming up for AVD and we should start seeing some action shortly.