X0202 4 2007-03-28 0 0000918573 Avalon Oil & Gas, Inc. AOGS.OB 0001098482 UTEK CORP 2109 PALM AVENUE TAMPA FL 33605 0 0 1 0 Common Stock 2007-03-28 4 A 0 36710526 0.0234 D 71841668 D Common Stock 2007-03-28 4 S 0 1835526 0.0234 D 70006142 D On March 28, 2007, UTEK Corporation sold its 100% ownership in Leak Location Technologies, Inc. in a stock for stock exchange. UTEK received 36,710,526 unregistered common shares. The estimated market value of the shares of the subsidiary is $859,000. UTEK has an agreement to pay Aware Capital Consultants 5% of any stock received in a technology transfer transaction with a customer introduced by Aware Capital Consultants. UTEK Corporation by Carole R. Wright, CFO 2007-03-29