Rodinia Oil Corp. Confirms Rig Mobilization for Officer Basin
CALGARY, ALBERTA -- (Marketwire) -- 04/20/11 -- Rodinia Oil Corp.
("Rodinia" or the "Corporation") (TSX VENTURE: ROZ) is pleased to
announce that Ensign Australia Pty. Limited, a subsidiary of Ensign
International Energy Service ("Ensign International") has begun
de-mobilizing its heavy triple Rig #16 from the Cooper Basin, South
Australia. Ensign International is mobilizing the rig to the Officer
Basin in South Australia for Rodinia.
Drilling Program Update
Ensign International's Rig #16 has begun mobilizing for the
approximately 2,000 kilometre journey to the Officer Basin to
commence drilling of "Mulyawara 1", the first well in Rodinia's
exploratory drilling program. Mulyawara 1 is expected to spud in
mid-May and drilling is expected to take approximately six weeks.
Mulyawara 1 is located in the northwest corner of PEL 253 (South
Australia) and will test a structure of approximately 36.3 square
kilometres (per horizon) in size identified on seven seismic lines.
This well will target five potential reservoirs, the deepest of which
is the aeolian Pindyin sandstone (also called the sub-salt unit).
Rodinia has an 80% working interest in this well and prospect and is
Rodinia's contract with Ensign International includes four firm wells
with the option for up to four additional wells in the Officer Basin.
Report by Ryder Scott Company Canada
According to a report (the "Ryder Scott Resource Report") prepared by
Ryder Scott Company Canada (independent oil and natural gas reservoir
engineers), dated January 12, 2010 and effective December 31, 2009,
the unrisked, undiscovered, prospective (recoverable) resource, based
on a best (P50) scenario, for Mulyawara 1 is estimated at 2.7 BBbls
(gross) of oil.
The Ryder Scott Resource Report on the resource potential of the
Officer Basin describes the prospective (recoverable) portion of
"Undiscovered Resources", as defined by the Canadian Oil and Gas
Evaluation Handbook and does not represent an estimate of reserves.
The Ryder Scott Resource Report is compliant with National Instrument
51-101 "Standards of Disclosure for Oil and Gas Activities" ("NI
51-101"). There is no certainty that any portion of the resources
will be discovered. If discovered, there is no certainty that it will
be commercially viable to produce any portion of the resources.
Prospective resources are those quantities of petroleum estimated, as
of a given date, to be potentially recoverable from undiscovered
accumulations by application of future development projects.
Prospective resources have both an associated chance of discovery and
a chance of development. Prospective resources are presented as
unrisked prospective oil resources. The term unrisked means that no
geological risk (play risk) has been incorporated in the hydrocarbon
Additional information on the prospective resources can be found at
www.sedar.com, in the Long Form Prospectus dated May 20, 2010 filed
under Rodinia Oil Corp.
About Ensign International Energy Services
Ensign International 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.
About Rodinia Oil Corp.
Rodinia is an international oil and gas exploration corporation. Its
common shares and warrants are listed on the TSX Venture Exchange
under the symbol "ROZ" and "ROZ-WT" respectively. Rodinia is engaged
in the exploration, acquisition and development of onshore petroleum
and natural gas assets in Australia's Officer Basin. Founded in 2006,
Rodinia is one of the first companies to undertake onshore
exploration in the Officer Basin and has access to large tracts of
exploratory lands. Rodinia has offices in Calgary, Alberta and
Adelaide, South Australia.
This press release may contain forward-looking information that
involves substantial known and unknown risks and uncertainties, most
of which are beyond the control of Rodinia, including, without
limitation, statements pertaining to its anticipated drilling
program. All statements included herein, other than statements of
historical fact, are forward-looking information and such information
involves various risks and uncertainties. There can be no assurance
that such information will prove to be accurate, and actual results
and future events could differ materially from those anticipated in
such information. A description of assumptions used to develop such
forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking
information can be found in Rodinia's disclosure documents on the
SEDAR website at www.sedar.com. Any 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.
Rodinia Oil Corp.
Manager, Investor Relations
(403) 718-0366 or Toll Free: (877) 822-7280
(403) 718-3888 (FAX)
Rodinia Oil Corp.
Suite 320, 715 5 Ave. SW
Calgary, AB, Canada T2P 2X6
For all Media inquiries contact:
Brookline Public Relations
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