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Press Release

Source: Avalon Oil & Gas, Inc.


MINNEAPOLIS, MN – March 12, 2012 – Avalon Oil and Gas, Inc. (Avalon) (OTCBB: AOGN) announced it has delivered a company presentation last week to a business forum of
the German private investment group, UFM e.V.(www.ufm-ev.de). This investor group is based in Starnberg, Germany. UFM e.V. has a successful history of raising debt and equity capital from its investor network for financing innovative growth companies.

UFM e.V.’s Director, Wilhelm v. Herder-Hebenbrock said, “UFM was pleased to showcase Avalon’s offering, as it is aligned with our target investment criteria of compelling value proposition and growth potential.” He added “Our investors and their investment networks actively seek emerging growth company opportunities where our investment enables small companies to achieve full market success.” UFM e.V. is a registered partner of KfW Banks Group and is able to organize financing rounds from the High Tech Founder Fund, Bayern Capital and other public financing institutions, in cooperation with their lead investors.

Avalon Board Member, René Häusler, introduced Avalon into the UFM e.V. forum. Mr. Häusler said “An investment from UFM’s network will bring added value, given their strong partnerships with established private-equity and VC companies in Germany and abroad.” He commented “With oil prices at recent high levels, European investors are interested in new energy investments and growth opportunities to take advantage of the dynamic oil and gas market.” He continued “Avalon represents a fresh approach to developing proven, undervalued oil and gas investment assets.”

Avalon’s CEO, Kent Rodriguez added, “By engaging new sources of investment capital from the UFM network, Avalon will be positioned to acquire additional oil and gas producing properties to add to our existing portfolio.” He added, “The experience and reach of the UFM network represent tremendous opportunity for our company’s future growth.”

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Avalon Oil & Gas, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflectchanged assumptions, the occurrence of unanticipated events or changes to future operating results.

FOR FURTHER INFORMATION, please visit the company’s website at www.avalonoilinc.com, or contact:

Avalon Oil & Gas, Inc., Minneapolis
Kent Rodriguez, CEO
Tel: 952-746-9655
Fax 952-746-5216