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Snatcher-1 Well Flows 218 Barrels of Oil Per Day on ACOR’s ORRI



  Snatcher-1 Well Flows 218 Barrels of Oil Per Day on ACOR’s ORRI under PEL
  111 in South Australia - Snatcher-2 to Begin Drilling in Approx. Seven (7)
  Days

Business Wire

CISCO, Texas -- July 28, 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 Short Term Production Test at
Snatcher-1 has resulted in a flow to the surface from the Birkhead Formation
of clean 48 degree API oil at a rate of 218 barrels per day on a 12/64 in
choke.

The Short Term Production Test will continue over the next week to establish
stabilized production rates and reservoir pressure information for future long
term production.

Snatcher-1 was 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.

ACOR owns a 1/10^th of 1% ORRI under PEL 111, covering approximately 292,819
gross acres.

Rig Moves to immediately Drill Snatcher-2 Well on ACOR’s ORRI

Drill site preparation activities are in progress at the Snatcher-2
exploration well location for the planned drilling of Snatcher-2, expected to
commence drilling in approximately 7 days time. The Century drilling rig is
currently stacked at the Snatcher-1 well location, ready to move.

The Snatcher-2 exploration well location is approximately 2,949 feet to the
northwest of Snatcher-1.

ACOR management looks forward to the drilling results from the Snatcher-2
exploration well as a discovery here would further confirm our belief in the
potential of the Western Margin Oil Project within PEL 111.

About the Western Margin Oil Trend:

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.

The western margin oil trend is an attractive exploration target for two
reasons.

  * It is one of the few places where hydrocarbons from Cooper Basin source
    rocks can migrate into traps in the overlying Eromanga Basin. In most
    places, a cap rock at the unconformity between the Cooper and Eromanga
    prevents this happening, but along the western margin the cap rock is
    faulted, eroded or otherwise missing.
  * Secondly, the western margin is only lightly explored. Santos made oil
    discoveries at Charo and Callabonna in the early 1990s, but it left
    thousands of square miles unexplored because of its priority on gas
    exploration.

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 possible Western Margin Oil
Trend.

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
acor@classicnet.net
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