NEWS RELEASE TRANSMITTED BY MARKETWIRE
FOR: Rodinia Oil Corp.
TSX VENTURE SYMBOL: ROZ
April 20, 2011
Rodinia Oil Corp. Confirms Rig Mobilization for Officer Basin Drilling Program
CALGARY, ALBERTA--(Marketwire - April 20, 2011) - 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 the operator.
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
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 volume estimates.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rodinia Oil Corp.
Manager, Investor Relations
(403) 718-0366 or Toll Free: (877) 822-7280
Rodinia Oil Corp.
Suite 320, 715 5 Ave. SW
Calgary, AB, Canada T2P 2X6
For all Media inquiries contact:
Brookline Public Relations
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- Apr/20/2011 13:01 GMT
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