Rodinia Oil Corp. Provides Mulyawara-1 Well Drilling Update (South Australia)
05 July 2011 - 11:08PM
Marketwired
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.
Forward-Looking Statements
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.
Contacts: Rodinia Oil Corp. Susan Showers Manager, Investor
Relations (403) 718-0366 or Toll Free: (877) 822-7280 Rodinia Oil
Corp. Suite 320, 715 5 Ave. SW, Calgary, Alberta, Canada T2P 2X6
(403) 718-3888 (FAX) info@rodiniaoil.com www.rodiniaoil.com For all
Media inquiries: Brookline Public Relations Shauna MacDonald (403)
538-5645 smacdonald@brooklinepr.com
(TSXV:ROZ)
Historical Stock Chart
From Aug 2024 to Sep 2024
(TSXV:ROZ)
Historical Stock Chart
From Sep 2023 to Sep 2024