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CALGARY, Feb. 21 /CNW/ - Avery Resources Inc. (TSX-V: ARY) ("Avery" or "the Company") today announced it has begun drilling Gamma-1, the second well in a multi-well drilling program in the 236,700 acre ATP-752P Wompi Block, located in the Queensland sector of Australia's Cooper Basin.
The Australian operator, Bow Energy Limited, expects this well to be drilled to a depth of approximately 1,500 meters. Gamma-1 will test a structure that is located up-dip from two wells that had strong oil shows in multiple horizons. The well is expected to take approximately 16 days to drill and evaluate.
About Avery
Avery Resources is an international hydrocarbon exploration and production company based in Calgary, Alberta. The Company is committed to growing shareholder value through international acquisitions and exploration in countries that provide significant exploration upside coupled with favorable fiscal and legal systems. Avery's primary interest is in Australia, where the Company is building a significant presence through production, partnerships, drilling and acquisitions. Avery is focusing its current drilling activity in the Cooper Basin region of Australia.
Disclaimers
Except for statements of historical fact, all statements in this press release, without limitation, regarding new projects, acquisitions, and future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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