Santa Clarita-based AV1 Group announced Tuesday it has transferred its controlling interest of the company to the management of AM Oil Resources & Technology, a Nevada company, which will now chart a new course into the burgeoning oil and gas industry. This transfer of power and new direction is expected to bring significant value to current and future shareholders. Management will ultimately change the Company’s name with FINRA to signify this new direction and file quarterly financials on the OTC Markets site very soon.
According to Anthony Miller, CEO of AM Oil Resources & Technology, “Management is extremely excited about the opportunity to finally bring our proven business model to the marketplace in its current state. We have assembled an ever expanding team from industry, manufacturing, marketing, finance, and oil production together with this venture. We are now ready to build a dynamic oil production and technology firm that will have significant growth year after year. In the coming weeks, we will unveil our near and long term plans for our company. With crude oil prices hovering around $100 per barrel, we are confident that we can reach our goals and objectives.
“Our initial plan is to raise capital for AVOP and work within its current capital structure through transferring equity, preferred stock, restricted stock and debt to capitalize our company; as not to cause further dilution into the market. In the near term, we believe that this is the most prudent solution to grow this Company. More information about us can be found on our Company’s website located at www.amoilresources.com,” added Mr. Miller.
About AM Oil
AM Oil Resources & Technology is an oil technology and production company that believes that its unique approach of applying its proprietary technologies to marginal wells, with known reserves, will earn the company a profitable niche in the petroleum industry. The Company will acquire significant oil properties through partnerships, strategic alliances, acquisitions, purchases where this technology will have and application to enhance oil recovery and produce significant revenue. Oil production is the key in this current environment and making more oil is the goal of every operator. We believe that our technology offers a key solution for heavy, mid and light gravity oils that need heat, pressure and or a driving mechanism to bring more oil to the surface. Our portable steam technology offers a cost effective solution to enhancing oil recovery. Strategically marketing this technology will result in significant growth in both revenues and profits for our Company and our Partners.