CALGARY, July 30 /PRNewswire/ — 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 data.
Rodinia intends to initiate a Phase Two seismic program in the Officer Basin early in 2009.
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.
Canadian disclaimer
“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.”
US Disclaimer
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.
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Rodinia Oil Corp.