Avery Resources Changes Name to Bengal Energy Ltd. and Executes 5:1 Share Consolidation

    CALGARY, July 18 /CNW/ - Avery Resources Inc. (TSX: ARY) ("Avery" or "the
Company") announces that at an Annual and Special Meeting (the "Meeting") of
shareholders held on July 17, 2008, the Company received requisite approval
for the name change of the Company to Bengal Energy Ltd. ("Bengal") and to
consolidate its shares on a 5:1 basis. The name change better reflects the
Company's broadened international oil and gas focus. This follows the
Company's appointment of a new management team and purchase of Bengal Energy
Inc. in February 2008. In addition the following directors were elected at the
Meeting and will continue as directors of Bengal: Bradley G. Johnson, Chayan
Chakrabarty, Richard Edgar, Judith Stripling, Ian J. Towers, James B. Howe and
Ted Hanbury. Bengal wishes to thank R. Stephen Peacock for his contributions
as a director of Avery. Avery is pleased to announce the addition of Ted
Hanbury as a director of the Company. Mr. Hanbury is the Executive Vice
President of Daylight Resources Trust, and is a professional engineer. He has
extensive international experience, much of which occurred together with the
current management team of Bengal. It is anticipated that the Company will
trade on the TSX under Bengal Energy Ltd. and on a consolidated basis on or
about Tuesday July 22, 2008 at which point the trading symbol will change from
"ARY" to "BNG". The Company's website address will change from
www.averyresources.com to www.bengalenergy.ca. Subsequently, the Company
effected the name change and consolidation by filing the required documents
with corporate registry.
    Registered shareholders of the Company are required to deliver their
existing common share certificates (the "Old Common Shares") to the Company's
registrar and transfer agent, Valiant Trust Company ("Valiant"), who will
exchange the Old Common Shares for new common share certificates of Bengal
(the "New Common Shares") on the basis of five Old Common Shares for every one
New Common Share. A Letter of Transmittal for the exchange of the shares will
be sent to all registered shareholders of record. To receive New Common
Shares, registered shareholders should follow the instructions set out in the
Letter of Transmittal and send their Old Common Shares, together with the
Letter of Transmittal, to Valiant. Valiant will then deliver, or hold for pick
up, the New Common Shares to which each registered shareholder is entitled, in
accordance with the instructions given in the Letter of Transmittal.
    Beneficial shareholders (i.e. shareholders whose shares are held through
a brokerage account) are requested to contact their brokers for necessary
coordination of the distribution of the New Common Shares to which they are

    About Bengal

    Bengal is an international junior oil and gas exploration and production
company based in Calgary, Alberta. The Company is committed to growing
shareholder value through international exploration, production and
acquisitions. Avery currently trades on the TSX under the symbol ARY. As noted
above, it is anticipated that Avery will trade on the TSX under the symbol
BNG, on or about Tuesday, July 22, 2008.


    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.

    %SEDAR: 00003559E

For further information:

For further information: Bengal Energy Ltd., Bradley Johnson, Chief
Executive Officer; Chayan Chakrabarty, President, (403) 205-2526, Email:
investor.relations@averyresources.com, Website: www.averyresources.com

Organization Profile


More on this organization

Bengal Energy Ltd.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890