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Avatar Announces Appointment of Receiver and Resignation of Directors

CALGARY, ALBERTA — (Marketwire) — 02/04/13 — Avatar Energy Ltd. ("Avatar" or the "Corporation") (TSX VENTURE: AVG) announces that it has received a Notice of Intention to Enforce Security from its bank lender and, in connection therewith, that it has consented to the appointment by the lender of Ernst & Young Inc. as the receiver and manager of the Corporation-s property. As a result of the current financial position of the Corporation and current economic circumstan

Consent Judgment Filed Against Avatar

CALGARY, ALBERTA — (Marketwire) — 01/31/13 — Avatar Energy Ltd. ("Avatar" or the "Corporation") (TSX VENTURE: AVG) announces that it has been notified that the farmor (the "Farmor") of its Brazeau well is enforcing a judgment to recover debts from Avatar in the amount of $654,191.04 as consented to by Avatar in accordance with a previously disclosed forbearance agreement. Avatar does not have funds available to repay the debt. Discussions with the Farmor and th

Avatar Energy Ltd. Receives Final TSXV Approval With Respect to the Sale of Its Pembina Strawberry Creek Properties

CALGARY, ALBERTA — (Marketwire) — 01/04/13 — Avatar Energy Ltd. ("Avatar" or the "Corporation") (TSX VENTURE: AVG) announces that it has received final approval from the TSX Venture Exchange with respect to the sale of its working interest in properties located in the Pembina Strawberry Creek for cash gross proceeds of approximately $1.8 million (the "Transaction") less required adjustments. All closing and trust conditions with respect to the Transaction have

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