NEWS RELEASE TRANSMITTED BY MARKETWIRE
FOR: Rodinia Oil Corp.
TSX VENTURE SYMBOL: ROZ
October 25, 2010
Rodinia Oil Corp. Secures Rig for Officer Basin Drilling Program
CALGARY, ALBERTA--(Marketwire - Oct. 25, 2010) - Rodinia Oil Corp. (TSX
VENTURE:ROZ) ("Rodinia") is pleased to announce that its Australian
subsidiary, Officer Basin Energy Pty. Ltd., has executed an agreement with
Ensign Australia Pty. Limited ("Ensign") to engage Ensign's Rig
16 to carry out its initial six well drilling program. Rodinia's drilling
program will initially test six separate large structural targets in the
Officer Basin in South Australia. Rodinia's contract with Ensign includes
four firm wells with the option to extend the contract to drill four additional
wells (eight total) with Rig 16 as part of this program. Rodinia expects
drilling to begin in February 2011.
"We are thrilled to have secured Ensign's Rig 16 for our drilling
program and look forward to working with Ensign as we continue to explore this
world-class onshore play," said Paul Bennett, CEO of Rodinia. "The
contracting of this rig puts us one step closer to evaluating the immense
hydrocarbon potential of the Officer Basin. Of all the rigs currently working
in Australia, Ensign's Rig 16 best suits our technical requirements for
drilling in the Officer Basin."
Rodinia plans on initially drilling six wells to an average depth of 3,000
meters in Petroleum Exploration Licenses 81 and 253 in the Officer Basin in
South Australia. These wells will test prospects identified in Rodinia's
Phase I and Phase II seismic programs acquired between 2007 and 2009. The
un-risked, undiscovered prospective oil resource recoverable from these
prospects ranges from 775 - 12,376 million barrels according to independent
reserve evaluation firm, Ryder Scott Company (December 31, 2009). These
prospects occur in an area that appears mature for oil as opposed to natural
For more information on Rodinia, please visit www.rodiniaoil.com.
About Rodinia Oil Corp.
Rodinia, an international oil and gas corporation listed on the TSX Venture
Exchange under the symbol "ROZ", is engaged in the exploration,
acquisition and development of world-class onshore petroleum and natural gas
assets in Australia's Officer Basin. Founded in 2006, Rodinia is one of
the first companies of its kind to undertake onshore exploration in the Officer
Basin and has access to large tracts of potential oil resources in the region.
Rodinia has offices in Calgary, Alberta, Canada and Adelaide, South Australia.
About Ensign International Energy Services
Ensign is an Australian-based integrated drilling company, specializing in the
drilling of all forms of hydrocarbon and geothermal wells. It is a wholly owned
subsidiary of Ensign Energy Services Inc. of Canada, which has more than 50
years of experience specializing in the drilling of petroleum and natural gas
This press release contains forward-looking information that involves
substantial known and unknown risks and uncertainties, most of which are beyond
the control of Rodinia, including, without limitation, those listed under the
headings "Forward-Looking Statements" and "Risk Factors" in
Rodinia's final prospectus. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the forward-looking
information prove incorrect, actual results, performance or achievements could
vary materially from those expressed or implied by the forward-looking
information. Accordingly, prospective investors should not place undue reliance
on these forward-looking statements. These 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
For investor inquiries, please contact:
Rodinia Oil Corp.
Matthew P. Philipchuk
For media inquiries, please contact:
(403) 538-5641 ext. 106
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of this release.
INDUSTRY: Energy and Utilities - Oil and Gas
-0--0- Oct/25/2010 13:01 GMT
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