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Avery Resources Commences Drilling of Light Fingers Well
Avery Resources Commences Drilling of Light Fingers Well.
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\n\nCALGARY, July 25 /CNW/ - Avery Resources Inc. (TSX-V: ARY) (\"the\nCompany\") today announces has it commenced drilling the Light Fingers No.1\nexploration well. This well is the next step in Avery's Australian onshore\nCooper Basin oil exploration multi-well program, which recently resulted in\nthe discovery of the Toparoa oil field approximately 2.8 kilometers away. The\nwell is expected to be drilled to a depth of 1,630 meters and will target\nlight oil objectives in the Hutton Sandstone and Murta Formation. Drilling and\ntesting will take approximately 12 days. The well will complete Avery's\nfarm-in earning of the balance of the PEL 113 Murteree Block containing\napproximately 13,000 acres, giving the Company a 35 percent working interest\nin the block operated by Australian-listed Stuart Petroleum. Light Fingers\nNo.1 is located approximately 50 kilometers from Moomba in Central Australia.\n\"Light Fingers is on trend with our successful Toparoa-1 light oil\ndiscovery well, which tested more than 1,800 barrels per day, and with the\nDerrilyn oil field which has produced more than 750,000 barrels of oil,\" said\nDavid Little, chairman and CEO of Avery. \"Our expectation is that it will have\nsimilar reservoir properties to Toparoa and Derrilyn.\"\nAvery is also pleased to announce the appointment of John Carruthers as\nExecutive Vice President. Mr. Carruthers has been an integral part of the\nAvery team for the past three years, and his experience and skills have\nprovided growth and innovation to the Company.\n\nAbout Avery\n\nAvery Resources is an international junior oil and gas exploration\ncompany based in Calgary, Alberta that trades on the TSX Venture Exchange\nunder the symbol ARY. The Company is committed to growing shareholder value\nthrough international acquisitions and exploration. Avery's primary interest\nis in Australia, where the Company is building a significant presence through\npartnerships, drilling and acquisitions. A successful oil well (Toparoa-1) was\nrecently drilled by Avery and its partner in the Cooper Basin region of\nAustralia where Avery is planning to drill up to eight wells over the next\nyear.\n\nForward looking statements: Except for statements of historical fact, all\nstatements in this press release, without limitation, regarding new projects,\nacquisitions, future plans and o...