Company Engages Ryder Scott to Perform Resource Evaluation on Current
CALGARY, July 30 /CNW/ - Upon completing the interpretation of its Phase
One seismic program data, Rodinia Oil Corp. ("Rodinia") has engaged Ryder
Scott Company, L.P. to conduct an independent Estimate of Hydrocarbon Resource
Potential of the Company's lands in the Officer Basin. Management's
interpretation of this seismic data, plus existing gravity, magnetic and
seismic data, indicates the possibility of more than 12 large closures that
range from approximately 10,000 acres to 157,000 acres in extent. These
closures contain at least four prospective reservoir horizons, with
thicknesses ranging from 50 to 500 metres. A closure is a geological term
quantifying a geological characteristic with the potential of being a trap
within the associated geological structure.
Several features identified on these closures are classified by
management as high risk drillable anomalies. The Phase One program included
986 km of high quality, high fold and high frequency two-dimensional seismic
Rodinia intends to initiate a Phase Two seismic program in the Officer
Basin early in 2009.
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.
"A preliminary prospectus containing important information has been filed
with securities commissions or similar authorities in certain jurisdictions of
Canada. The preliminary prospectus is still subject to completion or
amendment. Copies of the preliminary prospectus may be obtained from Matthew
Philipchuk, Executive VP of Rodinia. There will not be any sale or any
acceptance of an offer to buy the class "A" common shares of Rodinia until a
receipt for the final prospectus has been issued."
This release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities in the United States, nor shall there be any
sale of securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Forward Looking Statements
This release may contain forward-looking statements including
expectations of future drilling, 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) 718-0366, www.rodiniaoil.com,
firstname.lastname@example.org; Media Contact: Rebecca Eras, Brookline Public Relations,
Inc., T: (403) 538-5641 ext. 108, Cell: (403) 466-4523, email@example.com