Business
Avery Resources Appoints New President and Additional Directors, Updates Operations
Avery Resources Appoints New President and Additional Directors, Updates Operations.
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\n\nCALGARY, Nov. 28 /CNW/ - Avery Resources Inc. (TSX-V:ARY) welcomes four\naccomplished business people to its board of directors in conjunction with the\nfinancing and joint venture with Sequoia Oil & Gas Trust that closed last\nweek. Jim Howe, Bradley Johnson, Stephen Peacock and Ian Towers have all\nbecome directors of Avery. The new directors are in addition to John\nCarruthers, Richard Edgar and David Little. Brief biographies are included\nbelow for the new directors.\nRichard Edgar, who was already a director of Avery, has been named\nPresident of the company. Mr. Edgar has been active in exploration and\ndevelopment of oil and gas in Canada and internationally since 1972. Most\nrecently, he was President and CEO of Energy North Inc., a TSX-listed company\nwhich was sold in 2004 in a transaction valued at $50 million. Mr. Edgar is a\nmember of the Canadian Society of Professional Geologists, and the Association\nof Professional Engineers, Geologists and Geophysicists of Alberta.\nMelinda Park of Borden Ladner Gervais was named Secretary of Avery.\nGary Worth and Keith Skipper have stepped down from Avery's board of\ndirectors. Avery would like to thank them for their valuable contributions.\nMr. Worth will be focusing on his other business interests, while Mr. Skipper\nhas moved to Australia to pursue business opportunities.\n\"It is a very exciting time for Avery. The knowledge and experience of\nour new directors will help the company capitalize on the excellent petroleum\nexploration and development opportunities we have in Australia,\" stated Avery\nChairman and CEO, David Little. \"I am also pleased to have Richard Edgar take\non the role of President of the company. Richard brings an impressive record\nof adding value in leadership positions.\"\nAvery granted 1,175,000 stock options, of which 975,000 were issued to\ndirectors and officers. The options have an exercise price of $0.44 and expire\nfive years from the date of granting.\n\nNew Directors\n-------------\n\nThe following individuals have been newly appointed to Avery's Board of\nDirectors:\n\nJim Howe is an independent businessman and chartered accountant with\nsignificant experience in the oil and gas industry. He is the President of\nBragg Creek Financial Consultants Ltd. He is also a member of the board of\ndirectors of Ensign Resource Servic...