Jul. 5, 2011 (Marketwire Canada) --
CALGARY, ALBERTA -- Rodinia Oil Corp. ("Rodinia") (TSX VENTURE:ROZ) is pleased to report that Mulyawara-1 exploration well in the Officer Basin of South Australia has set surface casing and is drilling ahead to target formations.
Progress and Plan
Mulyawara-1 has reached a depth of 795 metres with surface casing set at 465 metres in the Dey Dey Mudstone. The well will commence intersecting prospective target formations below the Dey Dey Mudstone, which acts as the upper regional seal in the Officer Basin.
"To date, I am pleased with the rates of penetration into this very hard surface section," stated Paul Bennett, President and Chief Executive Officer of Rodinia. "Our plan is to continue drilling ahead using the air hammer drilling technique as far as possible and if necessary, switch to rotary drilling should penetration become too difficult."
Mulyawara-1 is located in the northwest corner of PEL 253 in the Officer Basin on a structure of approximately 36.3 square kilometres (per horizon) in size as identified on seven separate 2-D seismic lines. It will be drilled vertically to an estimated total drilling depth of 2,700 metres to test five prospective reservoir horizons: Murnaroo, Tarlina, Mundallio, Emeroo and Pindyin, the deepest of which is the aeolian Pindyin sandstone (also called the sub-salt unit).
As Mulyawara-1 is entering the prospective target formations, management of Rodinia has imposed an operational trading blackout on all officers, employees, directors and consultants until the results of the exploration well are made public at the conclusion of drilling and preliminary evaluation.
Rodinia expects to issue the next drilling update report once Mulyawara-1 has reached total depth early August 2011, unless a material event occurs in the interim.
About Rodinia Oil Corp.
Rodinia is an international oil and gas exploration corporation. The Common Shares and Warrants are listed for trading on the TSX Venture Exchange under the symbols "ROZ" and "ROZ.WT" respectively. Rodinia is engaged in the exploration, acquisition and development of petroleum and natural gas assets in Australia's Officer Basin. Founded in 2006, Rodinia has access to large tracts of exploratory lands and is one of the first companies to undertake exploration in the Officer Basin. 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 Rodinia's drilling plans and operations. 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) accepts responsibility for the adequacy or accuracy of this release.
Rodinia Oil Corp.
Manager, Investor Relations
(403) 718-0366 or Toll Free: (877) 822-7280
Rodinia Oil Corp.
(403) 718-3888 (FAX)
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