AGREEMENT AND PLAN OF ACQUISITION

      (a)    Acquisition Agreement . Subject to the terms and conditions of this Agreement, at the Effective Date, as defined below, all UMTI Shares shall be acquired from UTEK by AOGS in accordance with the respective corporation laws of their state and the provisions of this Agreement and the separate corporate existence of UMTI, as a wholly-owned subsidiary of AOGS, shall continue after the closing.

      (b)    Effective Date. The Acquisition shall become effective (Effective Date) upon the execution of this Agreement and closing of the transaction.

Shareholder

Number of Common AOGS Shares

UTEK Corporation

15,437,500

Aware Capital Consultants

812,500

      (a)    Rights in UMTI Cease. At and after the Effective Date, the holder of each certificate of common stock of UMTI shall cease to have any rights as a shareholder of UMTI.

      (b)    Closure of UMTI Shares Records. From and after the Effective Date, the stock transfer books of UMTI shall be closed, and there shall be no further registration of stock transfers on the records of UMTI.

      (a)     Organization. UMTI and UTEK are corporations duly organized, validly existing and in good standing under the laws of their respective states of incorporation, and they have the requisite power and authority to conduct their business and consummate the transactions contemplated by this Agreement. True, correct and complete copies of the articles of incorporation, bylaws and all corporate minutes of UMTI have been provided to AOGS and such documents are presently in effect and have not been amended or modified.

      (b)    Authorization. The execution of this Agreement and the consummation of the Acquisition and the other transactions contemplated by this Agreement have been duly authorized by the board of directors and shareholders of UMTI and the board of directors of UTEK; no other corporate action by the respective parties is necessary in order to execute, deliver, consummate and perform their respective obligations hereunder; and UMTI and UTEK have all requisite corporate and other authority to execute and deliver this Agreement and consummate the transactions contemplated by this Agreement.

      (c)     Capitalizat ion. The authorized capital of UMTI consists of 1,000,000 shares of common stock with a par value $.01 per share. At the date of this Agreement, 1,000 UMTI Shares are issued and outstanding as follows:

      (d)    Binding Effect. The execution, delivery, performance and consummation of this Agreement, the Acquisition and the transactions contemplated by this Agreement will not violate any obligation to which UMTI or UTEK is a party and will not create a default under any such obligation or under any agreement to which UMTI or UTEK is a party. This Agreement constitutes a legal, valid and binding obligation of UMTI, enforceable in accordance with its terms, except as the enforcement may be limited by bankruptcy, insolvency, moratorium, or similar laws affecting creditor’s rights generally and by the availability of injunctive relief, specific performance or other equitable remedies.

      (e)    Litigation Relating to this Agreement. There are no suits, actions or proceedings pending or, to the best of UMTI and UTEK’s knowledge, information and belief, threatened, which seek to enjoin the Acquisition or the transactions contemplated by this Agreement or which, if adversely decided, would have a materially adverse effect on the business, results of operations, assets or prospects of UMTI.

      (f)    No Conflicting Agreements. Neither the execution and delivery of this Agreement nor the fulfillment of or compliance by UMTI or UTEK with the terms or provisions of this Agreement nor all other documents or agreements contemplated by this Agreement and the consummation of the transaction contemplated by this Agreement will result in a breach of the terms, conditions or provisions of, or constitute a default under, or result in a violation of, UMTI or UTEK’s articles of incorporation or bylaws, the Technology, the License Agreement, or any agreement, contract, instrument, order, judgment or decree to which UMTI or UTEK is a party or by which UMTI or UTEK or any of their respective assets is bound, or violate any provision of any applicable law, rule or regulation or any order, decree, writ or injunction of any court or government entity which materially affects their respective assets or businesses.

      (g)    Consents. No consent from or approval of any court, governmental entity or any other person is necessary in connection with execution and delivery of this Agreement by UMTI and UTEK or performance of the obligations of UMTI and UTEK hereunder or under any other agreement to which UMTI or UTEK is a party; and the consummation of the transactions contemplated by this Agreement will not require the approval of any entity or person in order to prevent the termination of the Technology, the License Agreement, or any other material right, privilege, license or agreement relating to UMTI or its assets or business.

      (h)    Title to Assets. UMTI has or has agreed to enter into the agreements as listed on Exhibit A attached hereto. These agreements and the assets shown an the balance sheet of attached Exhibit B are the sole assets of UMTI. UMTI has or will by Closing Date have good and marketable title to its assets, free and clear of all liens, claims, charges, mortgages, options, security agreements and other encumbrances of every kind or nature whatsoever.

      (i)    Int ellectual Property

      (1)    The University of Wyoming (UWYO) owns the Technology and has all right, power,  authority and ownership and entitlement to file, prosecute and maintain in effect the Patent application with respect to the Inventions listed in Exhibit A hereto.

      (2)    The License Agreement between UWYO and UMTI covering the Inventions is legal, valid, binding and will be enforceable in accordance with its terms as contained in Exhibit A.

      (3)    Except as otherwise set forth in this Agreement, AOGS acknowledges and understands that UMTI and UTEK make no representations and provide no assurances that the rights to the Technology and Intellectual Property contained in the License Agreement do not, and will not in the future, infringe or otherwise violate the rights of third parties, and

      (4)    Except as otherwise expressly set forth in this Agreement, UMTI and UTEK make no representations and extend no warranties of any kind, either express or implied, including, but not limited to warranties of merchantability, fitness for a particular purpose, non-infringement and validity of the Intellectual Property.

      (j)    Liabilities of UMTI. UMTI has no assets, no liabilities or obligations of any kind, character or description except those listed on the attached schedules and exhibits.

      (k)    Financial Statements. The unaudited financial statements of UMTI, including a balance sheet, attached as Exhibit B and made a part of this Agreement, are, in all respects, complete and correct and present fairly UMTI’s financial position and the results of its operations on the dates and for the periods shown in this Agreement; provided, however, that interim financial statements are subject to customary year-end adjustments and accruals that, in the aggregate, will not have a material adverse effect on the overall financial condition or results of its operations, UMTI has not engaged in any business not reflected in its financial statements. There have been no material adverse changes in the nature of its business, prospects, the value of assets or the financial condition since the date of its financial statements. There are no, and on the Closing Date there will be no, outstanding obligations or liabilities of UMTI except as specifically set forth in the financial statements and the other attached schedules and exhibits. There is no information known to UMTI or UTEK that would prevent the financial statements of UMTI from being audited in accordance with generally accepted accounting principles.

      (l)    Taxes. All returns, reports, statements and other similar filings required to be filed by UMTI with respect to any federal, state, local or foreign taxes, assessments, interests, penalties, deficiencies, fees and other governmental charges or impositions have been timely filed with the appropriate governmental agencies in all jurisdictions in which such tax returns and other related filings are required to be filed; all such tax returns properly reflect all liabilities of UMTI for taxes for the periods, property or events covered by this Agreement; and all taxes, whether or not reflected on those tax returns, and all taxes claimed to be due from UMTI by any taxing authority, have been properly paid, except to the extent reflected on UMTI’s financial statements, where UMT1 has contested in good faith by appropriate proceedings and reserves Have been established on its financial statements to the full extent if the contest is adversely decided against it. UMTI has not received any notice of assessment or proposed assessment in connection with any tax returns, nor is UMTI a party to or to the best of its knowledge, expected to become a party to any pending or threatened action or proceeding, assessment or collection of taxes. UMTI has not extended or waived the application of any statute of limitations of any jurisdiction regarding the assessment or collection of any taxes. There are no tax liens (other than any lien which arises by operation of law for current taxes not yet due and payable) on any of its assets. There is no basis for any additional assessment of taxes, interest or penalties. UMTI has made all deposits required by law to be made with respect to employees’ withholding and other employment taxes, including without limitation the portion of such deposits relating to taxes imposed upon UMTI. UMTI is not and has never been a party to any tax sharing agreements with any other person or entity.

      (m)    Absence of Certain Changes or Events. From the date of the full execution of the Term Sheet until the Closing Date, UMTI has not, and without the written consent of AOGS, it will not have:

      (1)    Sold, encumbered, assigned let lapsed or transferred any of its material assets, including without limitation the Intellectual Property, the License Agreement or any other material asset;

      (2)    Amended or terminated the License Agreement or other material agreement or done any act or omitted to do any act which would cause the breach of the License Agreement or any other material agreement;

      (3)    Suffered any damage, destruction or loss whether or not in control of UMTI;

      (4)    Made any commitments or agreements for capital expenditures or otherwise;

      (5)    Entered into any transaction or made any commitment not disclosed to AOGS;

      (6)     incurred any material obligation or liability for borrowed money;

      (7)    Suffered any other event of any character, which is reasonable to expect, would adversely affect the future condition (financial or otherwise) assets or liabilities or business of UMTI; or

      (8)    Taken any action, which could reasonably be foreseen to make any of the representations or warranties made by UMTI or UTEK untrue as of the date of this Agreement or as of the Closing Date.

      (n)    Material Agreements. Exhibit A attached contains a true and complete list of ail contemplated and executed agreements between UMTI and a third party. A complete and accurate copy of all material agreements, contracts and commitments of the following types, whether written oral to which it is a party or is bound (Contracts), has been provided to AOGS and such agreements are or will he at the Closing Date, in full force and effect without modifications or amendment and constitute the legally valid and binding obligations of UMTI in accordance with their respective terms and will continue to be valid and enforceable following the Acquisition. UMTI is not in default of any of the Contracts. In addition:

      (1)    There are no outstanding unpaid promissory notes, mortgages, indentures, deed of trust, security agreements and other agreements and instruments relating to the borrowing of money by or any extension of credit to UMTI; and

      (2)    There are no outstanding operating agreements, lease agreements or similar agreements by which UMTI is hound; and

      (3)    The complete final drafts of the License Agreement have been provided to AOGS; and

      (4)    Except as set forth in (3) above, there are no outstanding licenses to or from others of any intellectual property and trade names; and

      (5)    There are no outstanding agreements or commitments to sell, lease or otherwise dispose of any of UMTI's property; and

      (6)     There are no breaches of any agreement to which UMTI is a party.

      (o)    Compliance with Laws. UMTI is in compliance with all applicable laws, rules, regulations and orders promulgated by any federal, state or local government body or agency relating to its business and operations.

      (p)    Litigation. There is no suit, action or any arbitration, administrative, legal or other proceeding of any kind or character, or any governmental investigation pending or to the best knowledge of UMTI or UTEK, threatened against UMTI, the Technology, or License Agreement, affecting its assets or business (financial or otherwise), and neither UMTI nor UTEK is in violation of or in default with respect to any judgment, order, decree or other finding of any court or government authority relating to the assets, business or properties of UMTI or the transactions contemplated hereby. There are no pending or threatened actions or proceedings before any court, arbitrator or administrative agency, which would, if adversely determined, individually or in the aggregate, materially and adversely affect the assets or business of UMTI or the transactions contemplated.

      (q)    Employees. UMTI has no and never had any employees. UMTI is not a party to or bound by any employment agreement or any collective bargaining agreement with respect to any employees. UMTI is not in violation of any law, regulation relating to employment of employees.

      (r)    Adverse Effect . Neither UMTI nor UTEK has any knowledge of any or threatened existing occurrence, action or development that could cause a material adverse effect on UMTI or its business, assets or condition (financial or otherwise) or prospects.

      (s)     Employee Benefit Plans. UMTI states that there are no and have never been any employee benefit plans, and there are no commitments to create any, including without limitation as such term is defined in the Employee Retirement Income Security Act of 1974, as amended, in effect, and there are no outstanding or un-funded liabilities nor will the execution of this Agreement and the actions contemplated in this Agreement result in any obligation or liability to any present or former employee.

      (t)    Books and Records. The books and records of UMTI are complete and accurate in all material respects, fairly present its business and operations, have been maintained in accordance with good business practices, and applicable legal requirements, and accurately reflect in all material respects its business, financial condition and liabilities.

      (u)    No Broker’s Fees. Neither UTEK nor UMTI has incurred any investment banking, advisory or other similar fees or obligations in connection with this Agreement or the transactions contemplated by this Agreement.

      (v)    Full Disclosure. All representations or warranties of UTEK and UMTI are true, correct and complete in all material respects to the best of our knowledge on the date of this Agreement and shall be true, correct and complete in all material respects as of the Closing Date as if they were made on such date. No statement made by them in this Agreement or in the exhibits to this Agreement or any document delivered by them or on their behalf pursuant to this Agreement contains an untrue statement of material fact or omits to state all material facts necessary to make the statements in this Agreement not misleading in any material respect in light of the circumstances in which they were made.

      (a)    Organization. AOGS is a corporation duly organized, validly existing and in good standing under the laws of Nevada, is qualified to do business as a foreign corporation in other jurisdictions in which the conduct of its business or the ownership of its properties require such qualification, and have all requisite power and authority to conduct its business and operate properties.

      (b)    Authorization. The execution of this Agreement and the consummation of the Acquisition and the other transactions contemplated by this Agreement have been duly authorized by the board of directors of AOGS; no other corporate action on their respective parts is necessary in order to execute, deliver, consummate and perform their obligations hereunder; and they have all requisite corporate and other authority to execute and deliver this Agreement and consummate the transactions contemplated by this Agreement.

      (c)    Capitalization. The authorized capital of AOGS consists of 1,000,000,000 (One Billion) shares of common stock with a par value $0.001 per share (AOGS Common Shares) and on the Effective Date of the Acquisition 188,298,543 (One Hundred, Eighty-Eight Million, Two Hundred, Ninety-Eight Thousand, Five Hundred, Forty-Three) AOGS Shares (which will include the 16,250,000 (Sixteen Million. Two Hundred, Fifty Thousand) AOGS Common Shares issued at the closing of the Acquisition) will be issued and outstanding. All issued and outstanding AOGS Shares have been duly and validly issued and are fully paid and non-assessable shares and have not been issued in violation of any preemptive or other rights of any other person or any applicable laws.

      (d)    Binding Effect. The execution, delivery, performance and consummation of the Acquisition and the transactions contemplated by this Agreement will not violate any obligation to which AOGS is a party and will not create a default hereunder, and this Agreement constitutes a legal, valid and binding obligation of AOGS, enforceable in accordance with its terms, except as the enforcement may be limited by bankruptcy, insolvency, moratorium, or similar laws affecting creditor’s rights generally and by the availability of injunctive relief, specific performance or other equitable remedies.

      (e)    Litigation Relating to this Agreement. There are no suits, actions or proceedings pending or to its knowledge threatened which seek to enjoin the Acquisition or the transactions contemplated by this Agreement or which, if adversely decided, would have a materially adverse effect on its business, results of operations, assets, prospects or the results of its operations of AOGS.

      (f)    No Conflicting Agreements. Neither the execution and delivery of this Agreement nor the fulfillment of or compliance by AOGS with the terms or provisions of this Agreement will result in a breach of the terms, conditions or provisions of, or constitute default under, or result in a violation of, their respective corporate charters or bylaws, or any agreement, contract, instrument, order, judgment or decree to which it is a party or by which it or any of its assets are bound, or violate any provision of any applicable law, rule or regulation or any order, decree, writ or injunction of any court or governmental entity which materially affects its assets or business.

      (g)    Consents. Assuming the correctness of UTEK and UMTI’s representations, no consent from or approval of any court, governmental entity or any other person is necessary in connection with its execution and delivery of this Agreement; and the consummation of the transactions contemplated by this Agreement will not require the approval of any entity or person in order to prevent the termination of any material right, privilege, license or agreement relating to AOGS or its assets or business.

      (h)    Financial Statements. The unaudited financial statements of AOGS attached as Exhibit C present fairly its financial position and the results of its operations on the dates and for the periods shown in this Agreement; provided, however, that interim financial statements are subject to customary year-end adjustments and accruals that, in the aggregate, will not have a material adverse effect on the overall financial condition or results of its operations. AOGS has not engaged in any business not reflected in its financial statements. There have been no material adverse changes in the nature of its business, prospects, the value of assets or the financial condition since the date of its financial statements. There are no outstanding obligations or liabilities of AOGS except as specifically set forth in the AOGS financial statements.

      (i)    Full Disclosure. All representations or warranties of AOGS are true, correct and complete in all material respects on the date of this Agreement and shall be true, correct and complete in all material respects as of the Closing Date as if they were made on such date. No statement made by them in this Agreement or in the exhibits to this Agreement or any document delivered by them or on their behalf pursuant to this Agreement contains an untrue statement of material fact or omits to state all material facts necessary to make the statements in this Agreement not misleading in any material respect in light of the circumstances in which they were made.

      (j)    Compliance with Laws. AOGS is in compliance with all applicable laws, rules, regulations and orders promulgated by any federal, state or local government body or agency relating to its business and operations.

      (k)    Litigation. There is no suit, action or any arbitration, administrative, legal or other proceeding of any kind or character, or any governmental investigation pending or, to the best knowledge of AOGS, threatened against AOGS materially affecting its assets or business (financial or otherwise), and AOGS is not in violation of or in default with respect to any judgment, order, decree or other finding of any court or government authority. There are no pending or threatened actions or proceedings before any court, arbitrator or administrative agency, which would, if adversely determined, individually or in the aggregate, materially and adversely affect its assets or business. AOGS has no knowledge of any existing or threatened occurrence, action or development that could cause a material adverse affect on AOGS or its business, assets or condition (financial or otherwise) or prospects.

      (l)    Development. AOGS agrees and warrants that it has the expertise necessary to and has had the opportunity to independently evaluate the inventions of the Licensed Technology and develop same for the market.

      (m)    Investment Company Status. AOGS is not an investment company, either registered or unregistered.

      (a)    General. It has such knowledge and experience in financial and business matters as to be capable of evaluating the risks and merits of an investment in AOGS Shares pursuant to the Acquisition. It is able to bear the economic risk of the investment in AOGS Shares, including the risk of a total loss of the investment in AOGS Shares, The acquisition of AOGS Shares is for its own account and is for investment and not with a view to the distribution of this Agreement. Except a permitted by law, it has a no present intention of selling, transferring or otherwise disposing in any way of all or any portion of the shares at the present time. All information that it has supplied to AOGS is true and correct. It has conducted all investigations and due diligence concerning AOGS to evaluate the risks inherent in accepting and holding the shares which it deems appropriate, and it has found all such information obtained fully acceptable. It has had an opportunity to ask

      (b)    Stock Transfer Restrictions. UTEK acknowledges that the AOGS Shares will not be registered and UTEK will not be permitted to sell or otherwise transfer the AOGS Shares in any transaction in contravention of the following legend, which will be imprinted in substantially the following form on the stock certificate representing AOGS Shares:

      (c)    Legend. During the first two years following the purchase of the AOGS Shares pursuant to this Agreement, the AOGS Shares may be transferred pursuant to an applicable exemption from the registration requirements of the Securities Act, including but not limited to Rule 144. Pursuant to and subject to the restrictions of Rule 144(k), at any time after the second full year following this Agreement, AOGS agrees to and shall direct its transfer agent to remove the above legend upon the issuance of a legal opinion from AOGS or UTEK’s counsel that the above legend can be removed from the AOGS Shares. UTEK agrees to and promptly shall provide any information requested by AOGS or its counsel. AOGS shall give direction to its transfer agent as necessary for such removal of the legend, or for the approval of the sale of such restricted shares under Rule 144 or other available exemption from registration. A sample letter from AOGS instructing its transfer agent to reissue the share certificates without the restrictive legend, provided that the conditions of Rule 144(k) are met, is attached as Exhibit D.

      (d)    If at any time AOGS fails to give the appropriate opinion to its transfer agent within fifteen business (15) days after a written request by UTEK, AOGS shall be liable to UTEK for an additional fee of ten percent (10%) of the current value of the shares subject to the request from UTEK, as well as any and all attorneys fees and costs that UTEK may incur as a result of AOGS failing to comply with this request.

      (e)    Stock Transfer Restrictions. UTEK will have “piggyback” registration rights for all of the common shares it will receive in this transaction.

      (a)    Use its good faith efforts to obtain all requisite licenses, permits, consents, approvals and authorizations necessary in order to consummate the Acquisition; and

      (b)    Notify the other parties upon the occurrence of any event which would have materially adverse effect upon the Acquisition or the transactions contemplated by this Agreement or upon business, assets or results of operations; and

      (c)    Not modify its corporate structure, except as necessary or advisable in order consummate the Acquisition and the transactions contemplated by this Agreement.

      4.01.    Each party must obtain the approval of its board of directors and such approval shall not he been rescinded or restricted.

      4.02.    Each party shall obtain all requisite licenses, permits, consents, authorizations and approvals required to complete the Acquisition and the transactions contemplated by this Agreement.

      4.03.    There shall be no claim or litigation instituted or threatened in writing by any person government authority seeking to restrain or prohibit any of the contemplated transactions contemplated by this Agreement or challenge the right, title and interest of UTEK in the UMTI Shares or the right of UMTI or UTEK to consummate the Acquisition contemplated hereunder.

      4.04.    The representations and warranties of the parties shall be true and correct in all material respects at the Effective Date.

      4.05.    The Technology and Intellectual Property has been prosecuted in good faith with reasonable diligence.

      4.06.    To the best knowledge of UTEK and UMTI, the License Agreement are valid and in full for and effect without any default in this Agreement.

      4.07.    AOGS shall have received, at or within 5 days of Closing Date, each of the following:

      (a)    the stock certificates representing the UMTI Shares, duly endorsed (or accompanied by duly executed stock powers) by UTEK for cancellation;

      (b)    all documentation relating to UMTI’s business, all in a form and substance satisfactory to AOGS;

      (c)    such agreements, files and other data and documents pertaining to UMTI’s business as AOGS may reasonably request;

      (d)    copies of the general ledgers and books of account of UMTI, and all federal, state and local income, franchise, property and other tax returns filed by UMTI since the inception of UMTI;

      (e)    certificates of (i) the Secretary of State of the State of Florida as to the legal existence and good standing, as applicable, (including tax) of UMTI in Florida;

      (f)    the original. corporate minute books of UMTI, including the articles of incorporation and bylaws of UMTI, and all other documents filed in this Agreement;

      (g)    all consents, assignments or related documents of conveyance to give AOGS the benefit of the transactions contemplated hereunder;

      (h)    such documents as may be needed to accomplish the Closing under the corporate laws of the states of incorporation of AOGS and UMTI, and

      (i)    such other documents, instruments or certificates as AOGS, or their counsel may reasonably request.

      (a)    The representations and warranties made by UTEK and UMTI shall survive for a period of 1 year after the Closing Date, and thereafter all such representation and warranties shall be extinguished, except with respect to claims then pending for which specific notice has been given during such 1-year period.

      (b)    The representations and warranties made by AOGS shall survive for a period of 1 year after the Closing Date, and thereafter all such representations and warranties shall be extinguished, except with respect to claims lien pending for which specific notice has been given during such 1-year period.

      (a)    Limitation of Liability . AOGS agrees that no Indemnified Person shall have any liability as a result of the execution and delivery of this Agreement, or other matters relating to or arising from this Agreement, other than liabilities that shall have been determined by final non-appealable order of a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of the Indemnified Person or Persons in respect of whom such liability is asserted. Without limiting the generality of the foregoing, in no event shall any Indemnified Person be liable for consequential, indirect or punitive damages, damages for lost profits or opportunities or other like damages or claims of any kind. In no event shall UTEK’s liability exceed the total amount of the fees paid to UTEK under this Agreement.

AVALON OIL AND GAS, INC

ULTRASONIC MITIGATION TECHNOLOGIES, INC.

By: /s/ Kent Rodriguez

By: /s/ Joel Edelson

    Kent Rodriguez,

Joel Edelson

    Chief Executive Officer

President

    Address:

Address:

    7000 Flour Exchange Building

2109 East Palm Avenue

    310 Fourth Avenue South

Tampa, Florida 33605

    Minneapolis, MN 55415

    Date:   7/7/06

Date:   7/12/06

  UTEK CORPORATION

By: /s/ Doug Schaedler

    Doug Schaedler

    Chief Operating Officer

    Address:

    2109 East Palm Avenue

    Tampa, Florida 33605

    Date:   7/12/06

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International Application 2004/024309A2, filed September 12; 2003, titled “System and Method for the Mitigation of Paraffin Wax Deposition from Crude Oil by Using Ultrasonic Waves”

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Nationalized PCT United States, serial number 10/527,614, publication number US-2005-0269097-A1, filed 3/11/2005, “System and Method for the Mitigation of Paraffin Wax Deposition from Crude Oil by Using Ultrasonic Waves”

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Nationalized PCT Canada. Application No. 2,498,742, filed 3/11/2005, “System and Method for the Mitigation of Paraffin Wax Deposition from Crude Oil by Using Ultrasonic Waves.” Inventor: Brian Francis Towler, PhD