Pacific Rodera Energy announces recent developments



    CALGARY, Dec. 4 /CNW/ - Mr. Michael Greenwood, Chairman & Chief Executive
Officer of Pacific Rodera Energy Inc. (TSX Venture: PRD) ("Pacific Rodera" or
the "Company") announced today the following recent developments:

    Joint Venture Agreement and Land Acquisitions

    Pacific Rodera has entered into a joint venture agreement to develop
lands in Central Alberta (the "Agreement"). Pursuant to the Agreement, Pacific
Rodera will be the operator of a multi-well drilling program on a 50/50 basis,
which is expected to commence in January 2008. The Company intends to tie-in
these wells as soon as drilling and testing is completed. Additionally,
Pacific Rodera has purchased 2,400 acres (the "Properties") on a gross basis
at recent Crown land sales to support these drilling locations. Pacific Rodera
is very excited about the size of the play and the available running room in
respect of the Properties.
    Economics on the Properties appear to show excellent returns even after
applying the recently announced royalty changes. In developing this area,
Pacific Rodera is able to take advantage of the lower service costs that are
available in the industry today. This project is consistent with Pacific
Rodera's goal of adding shareholder value through a carefully considered,
disciplined drilling program.

    Northwest Territories Update

    On Exploration License 423, in the Northwest Territories, over 75% of the
road access work is completed, drilling supplies are being delivered and
readied for the Company's intended January drilling program, which includes
the spud of the North Haywood B20 well. The Company intends to spud the
Cloverleaf well shortly after the Haywood well. Pacific Rodera is very excited
about these wells and the possibility of discovering a new oilfield with the
potential for tie-in.

    Change in Financial Year-End

    The board of directors of Pacific Rodera has resolved to change the
financial year-end of the Company from November 30 to December 31 in order to
have a financial year-end consistent with that of the majority of other
issuers in the oil and gas industry and facilitate third party analysis by
having the Company's financial results reported in the same periods as most of
its peers.
    In accordance with National Instrument 51-102 Continuous Disclosure
Obligations, the Company advises of the following:

    
    Old financial year:                  Twelve months ended November 30,
                                          2007

    Transition year:                     One month ended December 31, 2007

    Comparative annual financial         Twelve months ended November 30,
     statements to transition year:       2007

    New financial year:                  Twelve months ended December 31,
                                          2008

    Comparative annual financial         One month ended December 31, 2007;
     statements to new financial year:    and Twelve months ended
                                          November 30, 2007

    Interim periods for transition year: Not applicable

    Comparative interim periods to
     interim periods in transition year: Not applicable

    Interim periods for new financial    Three months ended March 31, 2008;
     year:                                Six months ended June 30, 2008; and
                                          Nine months ended September 30,
                                          2008

    Comparative interim periods to       Three months ended February 28,
     interim periods in new financial     2007; Six months ended May 31,
     year:                                2007; and Nine months ended
                                          August 31, 2007

    Filing deadlines for the interim     April 29, 2008 for audited financial
     and annual financial statements      statements for the one month ended
     for the Company's transition year:   December 31, 2007

                                         The Company is not required to file
                                          interim financial statements for
                                          its transition year
    

    Statements in this press release contain forward-looking information
including expectations. Readers are cautioned that assumptions used in the
preparation of such information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company. These
risks include, but are not limited to; the risks associated with the oil and
gas industry, commodity prices and exchange rate changes. Industry related
risks include, but are not limited to; operational risks in exploration,
development and production, delays or changes in plans, risks associated with
the uncertainty of reserve estimates, health and safety risks and the
uncertainty of estimates and projections of production, costs and expenses.
The risks outlined above should not be construed as exhaustive. The reader is
cautioned not to place undue reliance on this forward-looking information. The
Company undertakes no obligation to update or revise any forward-looking
statements except as required by applicable securities laws.

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




For further information:

For further information: David Williams, Senior Vice President,
Corporate Development and Investment Relations, Mark Hornett, President and
Chief Operating Officer, Michael Greenwood, Chairman and Chief Executive
Officer, Telephone: (403) 234-0501, Facsimile: (403) 234-0511

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PACIFIC RODERA ENERGY INC.

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