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Avery Resources Abandons Latest Well, Continues Drilling Program in Australia
Avery Resources Abandons Latest Well, Continues Drilling Program in Australia.
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\n\nCALGARY, Dec. 19 /CNW/ - Avery Resources Inc. (TSXV:ARY) announces today\nthat the Pine-1 well in PEL-103, Queensland, Australia was drilled to a total\ndepth of 2,687 metres. The operator, Innaminicka Petroleum, tested the\nTirawarra Sandstone and confirmed the presence of hydrocarbons, however the\nlog interpretations indicated a non-reservoir quality formation. The well will\nbe plugged and abandoned.\nThe Pine-1 well was the first of a two well programme scheduled with\nInnamincka on the South Candra block of PEL 103. Including the second South\nCandra well, Avery plans to drill approximately 8 exploration wells in\nAustralia in 2006. The company has access to over 1.5 million acres of land in\nthe Cooper Basin, where it has identified numerous drilling locations with the\npotential for significant oil discoveries.\nAvery Resources Inc. is an international junior oil and gas exploration\ncompany based in Calgary, Alberta that trades on the TSX Venture Exchange. The\ncompany is committed to growing shareholder value through international\nacquisitions and exploration. Avery's primary interest is in expanding\nexploration projects in oil and gas basins located in countries that provide\nsignificant exploration upside coupled with favourable fiscal and legal\nsystems.\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this release.\n%SEDAR: 00003559E\n\n\n","length":1476,"tagName":"div"}]