Business
Avery Resources Provides Exploration Update and Announces Options Grant
Avery Resources Provides Exploration Update and Announces Options Grant.
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\n\nCALGARY, Nov. 30 /CNW/ - Avery Resources Inc. (TSX-V: ARY) today\nannounced that its Australian operators have confirmed that a three-well\nback-to-back drilling program in the Wompi Block, located in the Queensland\nsector of the Cooper Basin in central Australia, and a 3D seismic survey of\nthe Katandra Prospect in the Timor Sea offshore Australia, are both expected\nto commence in January 2007.\n\"We are excited to receive drilling and seismic dates from two of our\nAustralian partners,\" said David Little, Chairman and CEO of Avery Resources.\n\"Our drilling program in the Wompi Block is just the start of a dozen or so\nwells we have planned over the next 18 months in Australia, and our offshore\nseismic survey of the Katandra Prospect lies on strike with the Jabiru\noilfield, 28 kilometers to the southwest, which has production of over\n100 million barrels to date.\"\nAvery has been advised by the operator in the ATP 752P Wompi Block, Bow\nEnergy Ltd., that drilling of the Maracoonda-2 well is expected to commence on\nJanuary 10, 2007 using the Hunt No.1 drilling rig. Maracoonda-2 will test an\ninterpreted three meters of net oil pay in the Hutton Sandstone first detected\nin Maracoonda-1. The other two wells in the Wompi Block program will be\nGamma-1 and Nora-1. Nora-1 will test a robust structure that is along trend\nwith the Watson and Watson South oil fields, located in the adjoining\nproduction license that have produced more than three million barrels of oil\nto date. Gamma-1 will test a structure that is located up-dip from two wells\nthat had strong oil shows in multiple horizons. The Wompi Block consists of\n236,700 acres located in the Queensland sector of the Cooper Basin. Avery has\nthe right to earn up to 50 percent in the block.\nAdditionally, Avery has been advised by the operator in Block AC/P 24 of\nthe Timor Sea, OMV Australia Ltd., that the Schwarzer 3D seismic survey will\ncommence on or around January 15, 2007. The seismic survey will be carried out\nto more completely define the Katandra structure and to determine the location\nof a development well. The structure was discovered in December 2004, when the\nexploration well, Katandra-1 encountered light sweet crude oil in a Vulcan Sub\nBasin prospect at a depth of 1,450 meters. The original well, which is\nsituated in approximately 100 meters...