Snatcher-1 Makes New Oil Field Discovery on ACOR’s ORRI under PEL 111 in South Australia-Drilling Rig Moves to Drill Snatcher-2 Business Wire CISCO, Texas -- July 08, 2009 Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) is pleased to announce that the operator, Victoria Petroleum N.L. (Vicpet) for the PEL 111 Joint Venture, advises that the current operation at Snatcher-1 is running wire line logs after having drilled to a total depth of approximately 6,167 feet. Wire line logs and sidewall cores indicate a gross oil column of approximately 46 feet over the interval 5,813 feet to 5,859 feet with the majority of the gross oil column being net oil pay. Wire line formation sampling is in progress to obtain oil samples from the oil column for production engineering data. The operator plans to complete the Snatcher-1 well as an oil producer. ACOR owns a 1/10^th of 1% ORRI under PEL 111 covering approx. 292,819 gross acres. Rig Moves to immediately Drill Snatcher-2 Well on ACOR’s ORRI The operator stated that because of the good result of the Snatcher-1 well, the operator has decided to immediately drill the Snatcher-2 well with the same drilling rig to further evaluate the oil bearing potential of this part of PEL 111. The Snatcher-2 exploration well location is approximately 2,949 feet to the northwest of Snatcher-1. About the Western Margin Oil Trend: Snatcher-1 is a successful test of the oil bearing potential of the Snatcher Prospect adjacent to the Santos Limited operated Charo Field in PPL 177. The PPL 177 license is wholly contained within PEL 111. The new Snatcher oil field discovery on ACOR’s ORRI under PEL 111, could possibly help discover a major new oil province that could possibly extend west to ACOR’s PEL 112. The production testing of the Snatcher-1 well is planned to be carried out in mid July. Recent drilling successes by Beach Petroleum, Cooper Energy and Victoria Petroleum on adjoining leases in the Cooper/Eromanga Basin in the Namur sandstone have operators theorizing that migration of oil past the Cooper/Eromanga Basin's Permian zero edge is highly possible. Click on link below to see map location of the Snatcher-1 Well. http://www.aussieoil.com/site/acor-map.pdf About Australian-Canadian Oil Royalties Ltd.: ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait and Offshore in the Carnarvon Basin in Western Australia. ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF." Summary: Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interests and overriding royalty interests are located offshore & onshore in the best producing basins. Visit our website at www.aussieoil.com. Disclaimer: Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as "probable" (P90), and "mean risked reserves," that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our Form 10K, Form 10Q and other filings with the SEC available from us at 1301 Ave M Cisco, Texas 76437. You can also obtain this information from the SEC on-line at www.sec.gov or by calling 1-800-SEC-0330. Except for historical information contained herein, the statements released are forward-looking statements that are made pursuant to the provision of the Private Securities Litigation Reform Act of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks. Contact: Australian-Canadian Oil Royalties Ltd. Investor Relations, 254-442-2638 firstname.lastname@example.org
Snatcher-1 Makes New Oil Field Discovery on ACOR’s ORRI under
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