Business
Avery Resources Provides Update on Wompi Block Drilling Program in Australia's Cooper Basin
Avery Resources Provides Update on Wompi Block Drilling Program in Australia's Cooper Basin.
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, Jan. 24 /CNW/ - Avery Resources Inc. (TSX-V: ARY) (\"Avery\" or\n\"the Company\") today provided an update on its three well drilling programs,\nconsisting of two consecutive wells and an option to drill a third well, in\nthe 236,700 acre Wompi Block located in the Queensland sector of Australia's\nCooper Basin. The operator has informed Avery that Marracoonda-2, the first\nwell in the program, has been drilled to a total depth of 1,775 meters and\nencountered oil shows over the interval of 1,686 to 1,692.5 meters within the\nprimary target zones. A drill stem test over the interval of 1,685 to 1,692.5\nmeters recovered 74 barrels of fluid consisting of five percent oil and oil\nemulsion with the remainder of the fluid being mud and water.\n\n\nAvery currently plans to re-evaluate the tested oil show zone after\nwireline logs have been acquired, subject to evaluation of next steps in\nconjunction with its partners in the well. Continuing heavy rainfall in the\narea over the past few days has caused widespread flooding and road closures,\nforcing temporary evacuation of most of the rig crew. A small crew remains on\nsite to monitor the well and testing operations are expected to re-commence\nonce weather and road conditions return to a state that allows the full crew\ncomplement to be restored.\n\n\nAbout Avery\n\n\nAvery Resources is an international hydrocarbon exploration and\nproduction company based in Calgary, Alberta. The Company is committed to\ngrowing shareholder value through international acquisitions and exploration\nin countries that provide significant exploration upside coupled with\nfavorable fiscal and legal systems. Avery's primary interest is in Australia,\nwhere the Company is building a significant presence through production,\npartnerships, drilling and acquisitions. Avery is focusing its current\ndrilling activity in the Cooper Basin region of Australia.\n\n\nDisclaimers\n\n\nExcept for statements of historical fact, all statements in this press\nrelease, without limitation, regarding new projects, acquisitions, and future\nplans and objectives are forward-looking statements which involve risks and\nuncertainties. There can be no assurance that such statements will prove to be\naccurate; actual results and future events could differ materially from those\nanticipated in such statements.\n\...