Avery Resources Inc.

Avery Resources Inc.

October 26, 2005 16:46 ET

Avery Resources Schedules Meeting to Proceed with Sequoia Joint Venture

CALGARY, ALBERTA--(CCNMatthews - Oct. 26, 2005) - Avery Resources Inc. (TSX VENTURE:ARY) advises that it has scheduled a special meeting of shareholders for November 23, 2005 in order to gain approval of a joint venture agreement with Sequoia Oil & Gas Trust. An information circular regarding the agreement is being mailed this week to Avery's shareholders of record on October 24, 2005.

The joint venture agreement, initially outlined in a July 14, 2005 news release, involves Avery's oil and gas development activities in Australia and outlines terms under which Sequoia will invest $4.2 million in Avery through property and cash. The property, located at Fox Creek in north central Alberta, is non-operated and contains four producing natural gas wells (sweet gas) and covers two sections (1,280 acres) of developed lands.

In conjunction with Avery moving forward with the agreement, Mr. C. Alan Smith has resigned from the company's board of directors in order to allow for changes to board representation. Mr. Smith has indicated his support for the joint venture agreement with Sequoia. Avery would like to thank Mr. Smith for his contribution to the company.

Avery Resources Inc. 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 release, 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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