Rodinia Oil Corp. Receives Independent Resource Estimate from Ryder Scott Company, L.P.



    
    Report Describes "Prospective" Estimation of Undiscovered Resources for
    Officer Basin Prospect in Australia
    

    CALGARY, Oct. 27 /CNW/ - Rodinia Oil Corp. ("Rodinia") is pleased to
announce that it has received an independent report from Ryder Scott Company,
L.P. ("Ryder Scott") disclosing a resource estimate of the Officer Basin
within Rodinia's Lands (the "Ryder Scott Report").
    The Ryder Scott Report on the resource potential of the Officer Basin
describes a possible distribution of the prospective (recoverable) portion of
"Undiscovered Resources", as defined by the Canadian Oil and Gas Evaluation
Handbook and does not represent an estimate of reserves.
    The Ryder Scott Report is compliant with National Instrument 51-101
"Standards of Disclosure for Oil and Gas Activities" ("NI 51-101"). (Source:
page 2 of the Ryder Scott Report)
    Based on all available data, Ryder Scott has assigned the following
probabilistic estimation of prospective (recoverable) resources in four
formations on the west half of PEL 81 and PEL 253 (South Australia), where
Rodinia recently acquired 986 kilometers of new seismic data.

    
    -------------------------------------------------------------------------
                              Unrisked Prospective     Unrisked Prospective
                                 (Recoverable)             (Recoverable)
                              Resources Expressed       Resources Expressed
    Area                    in Billions of Barrels    in Trillion Cubic Feet
    -------------------------------------------------------------------------
                            Low     Best     High      Low     Best     High
                           (P90)    (P50)    (P10)    (P90)    (P50)    (P10)
    -------------------------------------------------------------------------
    W of PEL 81 & 253      21.4     42.4     75.7     87.3    169.6    290.3
    -------------------------------------------------------------------------

    There is no certainty that any portion of the resources will be
discovered. If discovered there is no certainly that it will be commercially
viable to produce any portion of the resources

    A copy of the Ryder Scott Report is available for download at:
    http://snipr.com/3xrga-bj1nro

    (1) The above chart applies to gross lands on the west half of PEL 81
        & PEL 253. Rodinia's net working interest is 75% therein. Therefore,
        75% of these resources apply to Rodinia directly.

    (2) The above table summarizes the unrisked estimation of prospective
        (recoverable) oil (left) or gas (right) for all four prospective
        reservoirs (Pindyin, Emeroo, Mundalio and Tarlina) over the 26 mapped
        closures identified on the new seismic.

    (3) The area of the 26 mapped closures, to which these resource numbers
        apply, make up approximately 30% of Rodinia's lands. The other areas
        (totaling 70%) are assumed to have similar resource potential per
        acre but greater risk due to the lack of new seismic data and
        confirmed seismic closures.

    (4) None of the prospects have been penetrated by wells and have
        therefore been classified as 'undiscovered' prospective resources.

    (5) Because it is uncertain as to whether these formations would hold gas
        or oil, we have elected to calculate both gas and oil scenarios. If
        successful, it is possible that the formations could be filled with
        gas or oil or some combination thereof. Ryder Scott has not
        calculated mixed scenarios of oil and gas, although a mix is more
        likely. The calculations provided demonstrate either 100% gas or 100%
        oil. They should not be added together.

    (6) The resource estimate has been conducted using the definitions
        specified by the Canadian Oil and Gas Evaluation Handbook. The
        Officer Basin resource falls under the "Undiscovered Resources"
        classification. The values refer to the "Prospective" fraction of
        "Undiscovered Resources" within that classification.

    (7) Estimates are as of August 1, 2008, the effective date of the Ryder
        Scott Report.
    

    About Ryder Scott

    Ryder Scott evaluates oil and gas properties and independently certifies
petroleum reserves quantities in the U.S. and internationally. Founded in
1937, Ryder Scott is one of the largest, oldest and most respected
reservoir-evaluation consulting firms in the industry.
    The firm performs several hundred consulting studies per year for a
variety of clients. The firm has earned worldwide recognition for reliably
predicting the performance of complex oil and gas reservoirs in all major
petroleum provinces. With 66 professional petroleum engineers and
geoscientists, the firm conducts reserves evaluations, geoscience/geology
studies, field development and EOR design, reservoir simulation, economic
analysis, management consulting and expert witness testimony. The
Houston-based firm has branch offices in Calgary and Denver.
    Ryder Scott, by far, is the most widely used consulting firm for
preparing annual petroleum reserves certifications for filers with the U.S.
Securities and Exchange Commission, according to research firm John S. Herold.
Ryder Scott also serves clients listed on the London, Ontario, Toronto, Hong
Kong, Australian and other stock exchanges.
    The firm issues reserves certifications considered to be highly reliable
by banks and private investment groups. The "green book" report helps mitigate
risks in committing capital for acquisitions, exploration, field development,
redevelopment, infrastructure and refinancing.
    Major banking institutions establish reserves-based loan amounts, monitor
credit lines and determine guarantees based on report values. The report also
serves as a resource in screening and due-diligence reviews of acquisitions,
divestitures and mergers.

    About Rodinia

    Rodinia is a junior oil and natural gas corporation focused solely on
high impact onshore exploration in Australia. Rodinia has exclusive access to
over 23 million gross acres of under-explored lands within the Officer and
Georgina basins in Australia, which may have significant hydrocarbon potential
based upon recently acquired seismic data, known geologic history and the
existence of analogous basins in Oman and in Siberia, Russia. Rodinia is based
in Calgary, Alberta.

    US Disclaimer

    These securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "1933 Act") or any state
securities laws. Accordingly, these securities may not be offered or sold
within the United States or to U.S. persons (as such term is defined in
Regulation S under the 1933 Act) in the absence of an exemption from the
registration requirements of the 1933 Act and applicable state securities laws
and this release does not constitute an offer to sell or a solicitation of an
offer to buy any of these securities within the United States.

    Forward Looking Statements

    This release may contain forward-looking statements including
expectations of future production, reserves, cash flow and earnings. These
statements are based on current expectations that involve a number of risks
and uncertainties, which could cause actual results to differ from those
anticipated. These risks include, but are not limited to: the risks associated
with the oil and gas industry (e.g., operational risks in development,
exploration and production; delays or changes in plans with respect to
exploration or development projects or capital expenditures; the uncertainty
of reserve estimates; the uncertainty of estimates and projections relating to
production, costs and expenses, and health, safety, political and
environmental risks), the risk of commodity price and foreign exchange rate
fluctuations and country risk associated with international activity.

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




For further information:

For further information: Investors contact: Matthew Philipchuk,
Executive Vice President, Rodinia Oil Corp., 1810, 715 - 5th Avenue SW,
Calgary, AB, T2P 2X6, T: (403) 718-3876, www.rodiniaoil.com,
info@rodiniaoil.com; Media Contact: Rebecca Eras, Brookline Public Relations,
Inc., T: (403) 538-5641 ext. 108, Cell: (403) 466-4523, reras@brooklinepr.com

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