Avery Resources Provides Operations Update

About this update from Bengal Energy Ltd.

[{"type":"text","content":"\n\n\n\nCALGARY, June 9 /CNW/ - Avery Resources Inc. (TSX: ARY) ("Avery" or "the\nCompany") today provided an update on its operations in India and Australia.\nThe Company has signed a Joint Bidding Agreement with one of India's\ngovernment-owned national oil companies and a large Indian private sector\nenergy company, to participate in the upcoming Seventh New Exploration\nLicensing Policy ("NELP VII") Round of land parcels offered by the Indian\ngovernment for oil and gas exploration. In Australia, Avery has begun drilling\nthe second well of its 2008 drilling program and plans to begin drilling a\nthird well in late June.\n\n\nAvery's new management team has chosen to bid in the NELP VII Round for\nseveral reasons. India is a net importer of oil and gas, producing only 25% of\nits petroleum requirements, and is the world's fourth largest consumer of\nenergy. As a Commonwealth country and the world's largest democracy, it has a\nlong-established history of British common law and an attractive fiscal\nenvironment. NELP bidding rounds are generally held every year, and over the\nlast six years some of the world's largest oil and gas discoveries have been\nmade in India. Avery's bidding partners are experienced with the NELP process\nand are well capitalized, greatly improving Avery's chances of success. The\ndeadline for bids is June 30, 2008.\n\n\nIn Australia, Avery will begin drilling this week, the second well in a\nseven-well drilling program with its joint venture partner Santos Ltd.\n(ASX: STO, NASDAQ: STOSY) ("Santos"), a major Australian oil and gas\nexploration and production company. Santos expects the well, located in the\nQueensland sector of Australia's Cooper Basin, to be drilled to a depth of\n2,434 meters. This exploration test is located 20 kilometers southwest of the\nCompany's most recent well, and will test a structural oil prospect mapped on\nthe same trend as the recent oil discovery.\n\n\nThe first well drilled pursuant to the Santos-operated joint venture,\ndiscovered six meters of potential oil pay within a new zone for the area, the\nMurta Sandstone. This well is expected to be completed in mid-July and oil\nwill be transported through existing infrastructure operated by Santos. The\nnew oil well is located six kilometers west of the Santos-operated Cook Oil\nFie...

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