Avery Resources Inc.

Avery Resources Inc.

May 26, 2005 14:08 ET

Avery Resources Announces Renewal of Katandra Oil Discovery Permit

CALGARY, ALBERTA--(CCNMatthews - May 26, 2005) - Avery Resources Inc. (TSX VENTURE:ARY) is pleased to announce that it has been advised by OMV Timor Sea, the operator of the Katandra property offshore northern Australia, that the permit for the property has been renewed. The operator recently received formal notice advice from the Australian Northern Territory Department of Business, Industry and Resource Development that the AC/P24 exploration permit containing the Katandra oil discovery has been offered for renewal in accordance with the application submitted to the Government on February 23, 2005. All four contiguous graticular blocks comprising 272 square kilometers have been offered to be renewed for another five year term. All partners in the permit have agreed to accept the offer to renew the permit and the permit term is expected to commence in June 2005.

The Katandra oil discovery was made in late 2004. Avery and its partners will now reprocess the 3D seismic data covering the Katandra structure to better define the structure and aid in determining the optimum location at which to drill a possible appraisal or production well. In addition, other studies are being conducted with respect to the potential future development of the Katandra oil pool.

Avery Resources is an international junior oil and gas exploration company based in Calgary, Alberta that trades on the TSX Venture Exchange. The company is committed to growing shareholder value through international acquisitions and exploration. Avery's primary interest is in expanding exploration projects in oil and gas basins located in countries that provide significant exploration upside coupled with favourable fiscal and legal systems.

Forward looking statements: Except for statements of historical fact, all statements in this press releases, without limitation, regarding new projects, acquisitions, 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 has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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