Oil Plays (fka Oil-Gas)

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Ary news out---
Press Release Source: Avery Resources Inc.


Avery Resources Announces Australian Production
Wednesday October 11, 9:15 am ET


CALGARY, Oct. 11 /CNW/ - Avery Resources Inc. (TSX-V: ARY - News) today announced it has been advised by the operator that production has commenced at its Toparoa-1 oil discovery in the South Australian sector of the Cooper Basin. Toparoa-1 initially flowed at 1,570 barrels per day of light (42 degree API) sweet oil and, after well clean-up, it is currently producing 1,980 barrels of oil per day (bopd) plus a 10 percent water cut. Avery has a 32.67 percent interest in the well, providing approximately 650 barrels of oil per day net to Avery at current flow rates.
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Avery's partner in drilling Toparoa-1, Stuart Petroleum Ltd., has stated that an electric submersible pump (ESP) has been installed and production is expected to continue at or near current rates. The well produces from the Hutton sandstone formation similar to the adjacent Derrilyn oilfield, 1.3 kilometers to the northeast. With almost the same net pay interval, Derrilyn-1 produced approximately 1,400 bopd, totaling about 500,000 barrels of oil, from the formation in its first 12 months of production.

"We are very excited that Toparoa-1 is producing as expected," said David Little, Chairman and CEO of Avery Resources. "The $1.4 million payment that we have received substantially offsets the delay in production that resulted from the participants' decision to produce the well into the recently completed pipeline, rather than trucking the oil. This production is expected to put the Company over the 600 barrels of oil equivalent per day (boepd) threshold and dramatically improve our cash flow. We look forward to similar successes in Australia as we continue our drilling program in the Cooper Basin."

About Avery

Avery Resources is an international hydrocarbon exploration and production company based in Calgary, Alberta. The Company is committed to growing shareholder value through international acquisitions and exploration in countries that provide significant exploration upside coupled with favorable fiscal and legal systems. Avery's 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.

Forward looking statements

Except for statements of historical fact, all statements in this press release, without limitation, regarding new projects, acquisitions, and future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.


The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.


For further information

Avery Resources Inc., David Little, Chairman & CEO, Richard Edgar, President, [phone], Email: [e-mail], Website: www.averyresources.com
Iradesso Communications Corp., Ken Wetherell, Investor Relations, [phone] x224, Email: [e-mail]