Business
Avery Resources Inc. - Cuisinier-1 Cased and Suspended as a Potential Oil Producer
CALGARY, May 6 /CNW/ - Avery Resources Inc. (TSX-: ARY) ("Avery" or "the Company") is pleased to ...
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, May 6 /CNW/ - Avery Resources Inc. (TSX-: ARY) ("Avery" or "the\nCompany") is pleased to announce that Cuisinier-1, an oil exploration well\ndrilled in Queensland ATP 752P, has been cased and suspended as a potential\noil producer. Good oil shows and the open hole logs indicate 6 meters of\npotential pay sands within a new zone for the area (Murta sandstone). The\ndiscovery of such a new potential target zone for the area improves the\noverall exploration potential of Avery's acreage. This is the first well to be\ndrilled under the ATP 752P Barta Block farm-in agreement with Santos Ltd.\n("Santos"). Other partners include Bow Energy Limited and Victoria Petroleum\nNL.\n\n\nIt is anticipated that the well could be brought into production in early\nthird quarter 2008 with oil being transported through existing infrastructure\noperated by Santos. The Cuisinier-1 oil discovery is 6 kilometers west of the\nSantos operated Cook Oil Field.\n\n\nThe second well to be drilled as part of the farm-in, Hudson-1, is\nplanned to commence drilling in late June 2008. Hudson-1 is located 20\nkilometers south west of Cuisinier-1 and will test a seismically defined\nstructure.\n\n\nAbout Avery\n\n\nAvery Resources is an international junior oil and gas exploration\ncompany based in Calgary, Alberta that trades on the TSX under the symbol ARY.\nThe Company is committed to growing shareholder value through international\nacquisitions and exploration. Avery is active in Australia and reviewing\nopportunities in India, Libya, and Madagascar\n\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 objectives are forward-looking statements,\nwhich involve risks and uncertainties. There can be no assurance that such\nstatements will prove to be accurate; actual results and future events could\ndiffer materially from those anticipated in such statements.\n\n\n","length":2084,"tagName":"div"}]