CALGARY, Feb. 15, 2012 /CNW/ - (TSX-V:ROZ) - Following today's trading halt by Investment Industry Regulatory Organization of Canada ("IIROC"), Rodinia Oil Corp. ("Rodinia") confirms that it is unaware of any undisclosed material changes pertaining to Rodinia that would account for the recent increase in market activity and the rise in its share price on the TSX Venture Exchange.
Rodinia currently has working capital of approximately $6.0 - $10.0 million (inclusive of its current investment in PetroFrontier ("TSX-V: PFC")), depending on the outcome of its ongoing joint venture dispute resolution process.
Rodinia's ability to finance its future operations is dependent upon its ability to obtain new sources of financing.
About Rodinia Oil Corp.
Rodinia is an international oil and gas exploration corporation. The Common Shares and Warrants are listed for trading on the TSX Venture Exchange under the symbols "ROZ" and "ROZ.WT" respectively. Rodinia is engaged in the exploration, acquisition and development of petroleum and natural gas assets in Australia's Officer Basin. Founded in 2006, Rodinia has access to large tracts of exploratory lands and is one of the first companies to undertake exploration in the Officer Basin. Rodinia has offices in Calgary, Alberta and Adelaide, South Australia.
This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Rodinia, including, without limitation, statements pertaining to Rodinia's future operations and sources of capital. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Rodinia's disclosure documents on the SEDAR website at www.sedar.com. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, Rodinia does not assume any obligation to update or revise them to reflect new events or circumstances.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Rodinia Oil Corp.
Suite 320, 715 - 5 Ave. S.W.
Calgary, Alberta, Canada T2P 2X6
Telephone: (403) 718-0366
Toll Free: (877) 822-7280
Fax: (403) 718-3888