Pacific Rodera Energy announces intention to drill two wells in the Northwest Territories

    CALGARY, Oct. 3 /CNW/ - Mr. Michael Greenwood, Chairman & Chief Executive
Officer of Pacific Rodera Energy Inc. (TSX Venture: PRD) ("Pacific Rodera" or
the "Company") announced today that Pacific Rodera has agreed to participate
with Husky Energy in the two drilling licences which it has applied for in the
Summit/Keele area of the Northwest Territories. Pacific Rodera has a 10%
working interest in both licences. The first licence will target the Devonian
formation and the second will be drilled at Cloverleaf to test a Cretaceous
age reservoir which is believed to be an oil reservoir and is located within
tie-in distance to Enbridge's Norman Wells to Zama pipeline. The wells are
both based on a regional seismic survey on Exploration License 423. A
feasibility study has been completed for both tie-ins. The ability to tie-in
production differentiates these plays from many others in the Northwest
    Pacific Rodera has agreed in principle to increase its working interest
in EL 423 to 10%. Pacific Rodera is also increasing its ownership in EL 397 to
9%. There is one Significant Discovery Licence (SDL) which has been applied
for on EL 397 respecting the Stewart Lake D-57 well. It is proposed that a
second SDL will be applied for at a later date on EL 397 respecting the Summit
Creek B-44 well which tested at rates of approximately 20 mmcfd of natural gas
and in excess of 6,000 barrels per day of light oil and condensate. Pacific
Rodera's increased ownership in these properties is consistent with our
commitment to expose our shareholders to the tremendous exploration upside
available in this region.
    Pacific Rodera also announced that it has closed its previously announced
private placement with its new management team. The number of shares purchased
by the team was increased to 3,650,000, which shares are subject to a four
month hold-period. The management team now owns in excess of 25% of the
outstanding common shares of the Company. This significant ownership is
consistent with management's objective of aligning their own interests with
those of the shareholders.

    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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