Pacific Rodera Energy announces sale of Trutch assets and Northwest Territories update

    CALGARY, March 20 /CNW/ - Pacific Rodera Energy Inc. (TSX Venture: PRD),
("Pacific Rodera" or the "Company") announced today that it has agreed to sell
its 8% working interest in its Trutch property for $2.2 million dollars
payable in cash subject to customary price adjustments. The production
attributed to Pacific Rodera's working interest in these properties represents
approximately 45 boes of production per day. The sale of such a low working
interest is consistent with Pacific Rodera's objective of only being involved
in high working interest, operated properties. Completion of the sale is
subject to the approval of the TSX Venture Exchange and consent of the
purchaser's lenders which is expected to be received.
    As the credit cycle continues to unwind Pacific Rodera believes the real
opportunities are beginning to present themselves and the importance of having
cash is increasingly apparent. This is consistent with the Company vision that
was set out over 12 months ago. Upon closing the sale, Pacific Rodera will
have approximately $25.6 million cash on hand, no debt and excellent
connections to the capital markets. Pacific Rodera is actively pursuing
various domestic and international exploration and development opportunities
and has continued to acquire land in Canada as prices continue to fall, with
approximately 18,000 gross acres acquired since November 2007. In addition,
the Company is continuing to work with several First Nation bands in
Saskatchewan to secure interests in approximately 88,000 acres of land located
within the Bakken play area of SE Saskatchewan. Entering into this joint
venture arrangement is consistent with Pacific Rodera's strategy to develop
large contiguous land positions on high impact plays.
    We are also pleased to announce the appointment of John Nesbitt as Vice
President, Land. Pacific Rodera has now assembled a complete management team
to enable the Company to rigorously evaluate and operate properties as they
become available.

    Northwest Territories Update

    The Keele River L-52 well was drilled to a total depth of 895m. After
reviewing the logs, the well was determined to be a dry hole and is being
abandoned. In addition, the Dahadinni B-20 has been side tracked and is
anticipated to reach a total depth of 2580 meters by the end of the month.

    Statements in this press release contain forward-looking information,
including expectations relating to future opportunities and achieving certain
drilling results. 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, production and transportation, 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 and
readers are urged to read our publicly filed documents for additional risk
factors and considerations. 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: Michael Greenwood, Chairman and Chief Executive
Officer; Mark Hornett, President and Chief Operating Officer; David Williams,
Senior Vice President, Corporate Development and Investor Relations;
Telephone: (403) 234-0501, Facsimile: (403) 234-0511

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