Rodinia Oil Corp. Secures Rig for Officer Basin Drilling Program
CALGARY, ALBERTA -- (Marketwire) -- 10/25/10 -- 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
"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
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 wells.
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.
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.
For investor inquiries, please contact:
Rodinia Oil Corp.
Matthew P. Philipchuk
For media inquiries, please contact:
(403) 538-5641 ext. 106
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