Rodinia Oil Corp. provides drilling update on its "Mulyawara 1" well, Officer Basin, South Australia
04 August 2011 - 6:25PM
PR Newswire (Canada)
CALGARY, Aug. 4, 2011 /CNW/ -- CALGARY, Aug. 4, 2011 /CNW/ -
(TSX-V: ROZ) - Rodinia Oil Corp. ("Rodinia") is pleased to announce
that it is preparing to run the second intermediate casing string
prior to drilling ahead into prospective formations at "Mulyawara
1", in the Officer Basin of South Australia. Rodinia began drilling
Mulyawara 1 on the morning of Thursday June 9, 2011 (Australian
Central Standard Time) and reached the first intermediate casing
point of 1,525 meters on August 1, 2011. The casing shoe is being
set above the projected depth of the first series of evaporite
(salt) seals. To date drilling has been slower than anticipated due
to mechanical issues on the rig, drilling in harder rock than
predicted and extremely high rate water inflows from upper zones,
which forced drilling operations to switch from the faster air
hammer drilling to the slower underbalanced water rotary drilling.
Mulyawara 1 has confirmed the existence of excellent reservoir
quality rocks in the Neoproterozoic with the Eidacaran Age Murnaroo
Formation having an average log porosity of 18% (commonly up to
23%) and flowing water at rates between 600 and 900 Bbl per hour
during air drilling operations. The well has also encountered small
gas peaks and traces of hydrocarbon fluorescence exhibiting
blooming cut over discrete intervals within the undifferentiated
Upper Cryogenian. Although these findings are encouraging and
reduce the risks associated with source, migration and reservoir,
this exploration well is still a high-risk venture and yet to be
proven. The primary objectives of the well are yet to be
intersected and lie below the prospective regional salt seals.
Rodinia has an 80% working interest in this well and prospect and
is the operator. Mulyawara 1 is located in the northwest corner of
PEL 253 in the Officer Basin, South Australia on a structure of
approximately 36.3 square kilometres (per horizon) in size as
identified on seven separate 2-D seismic lines. As Mulyawara-1 is
entering the prospective target formations, management of Rodinia
will continue to impose an operational trading blackout on all
officers, employees, directors and consultants until the results of
the exploration well are made public. Rodinia expects to issue the
next drilling update report once Mulyawara-1 has reached total
depth, 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. Image with caption:
"MULYAWARA 1 OPERATIONS, OFFICER BASIN, SOUTH AUSTRALIA - JUNE 2011
(CNW Group/Rodinia Oil Corp.)". Image available at:
http://photos.newswire.ca/images/download/20110804_C9469_PHOTO_EN_1896.jpg
CALGARY, Aug. 4, 2011 /CNW/ -- To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/August2011/04/c9469.html
p Susan Showers, Manager, Investor Relations /p p Rodinia Oil
Corp.br/ Suite 320, 715 5 Ave. SW, Calgary, Alberta, Canada T2P
2X6br/ Telephone: (403) 718-0366br/ Toll Free: (877) 822-7280br/
Fax: (403) 718-3888 /p p Email: a
href="mailto:info@rodiniaoil.com"info@rodiniaoil.com/abr/
Website: a
href="http://www.rodiniaoil.com"www.rodiniaoil.com/a /p p Susan
Showers, Manager, Investor Relations /p p Rodinia Oil Corp.br/
Suite 320, 715 5 Ave. SW, Calgary, Alberta, Canada T2P 2X6br/
Telephone: (403) 718-0366br/ Toll Free: (877) 822-7280br/ Fax:
(403) 718-3888 /p p Email: a
href="mailto:info@rodiniaoil.com"info@rodiniaoil.com/abr/
Website: a
href="http://www.rodiniaoil.com"www.rodiniaoil.com/a /p
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