Avery Resources Continues Wompi Drilling in Cooper Basin

Cooper Basin
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Avery Resources Inc. on Monday completed testing of the Maracoonda-2 exploration well located in the Queensland sector of Australia's Cooper Basin. Marracoonda-2 is part of a three well exploration program on the 236,700 acre Wompi Block. Based on an integrated review of wireline logs, drilling data and the previously reported testing results, a decision has been made to plug and abandon the well.

The Australian operator, Bow Energy Limited, will move the rig immediately to the Gamma-1 well location and drilling of Gamma-1 is expected to commence on or about Sunday, February 18. Gamma-1 is interpreted to be an updip test of a well drilled by the previous operator, which had good oil shows in several zones. Immediately after Gamma-1 the operator plans to move the rig to the Nora-1 well location, the last well in the Wompi Block program. Following drilling of Nora-1, Avery will have earned a 50 percent interest in the block.

Avery Resources is an international hydrocarbon exploration and production company based in Calgary, Alberta. Its primary interest is in Australia, where the Company is building a significant presence through production, partnerships, drilling and acquisitions. Avery is focusing its current drilling activity in the Cooper Basin region of Australia.


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