Rodinia Oil Corp. Announces Initiation of Strategic Review Process

    




 CALGARY, Aug. 30, 2012 /CNW/ -  - Rodinia Oil Corp. ("Rodinia" or the "Corporation") announces that its  Board of Directors has formalized a process to identify, examine and  consider strategic alternatives for the Corporation with the view to  enhancing shareholder value. Such strategic alternatives may include,  but are not limited to, a sale, farmout or joint venture of all or a  portion of the assets of the Corporation, a merger or other business  combination of the Corporation with another entity, a recapitalization  of the Corporation, a sale of the Corporation as a whole or any  combination thereof. 

 In 2011 Rodinia drilled two exploratory wells, both of which encountered  oil and gas shows, encouraging petroleum systems indications and  excellent Neoproterozoic reservoirs. Management believes that  significant potential remains in the Officer Basin for both  conventional and unconventional hydrocarbon discoveries. A lack of  sufficient additional capital to undertake more extensive drilling  operations has constrained the Corporation, but the Board of Directors  believes that considerable geological progress has been made and  significant inherent value remains in the Corporation's assets. 

 To oversee this process, Rodinia's Board of Directors has established a  Special Committee comprised of all of the Directors. This Special  Committee will also seek the involvement of an investment banking  advisor to assist in these efforts. 

 It is the Corporation's current intention not to disclose developments  with respect to the strategic review process until the Board of  Directors has approved a specific transaction or otherwise determines  that disclosure is necessary or appropriate. The Corporation cautions  that there are no assurances or guarantees that this process will  result in a suitable alternative and the Corporation has not yet set a  definite schedule to complete this process. 

 About Rodinia Oil Corp.  

 Founded in 2006, Rodinia is engaged in the exploration, acquisition and  development of petroleum and natural gas assets in Australia's Officer  Basin, where it has an 85% working interest in approximately 23,000,000  gross acres of exploratory lands.  It is one of the first companies to  undertake exploration in the Officer Basin and has offices in Calgary,  Alberta and Adelaide, South Australia.  The Common Shares of Rodinia  are listed for trading on the TSX Venture Exchange under the symbol  "ROZ". 

 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 the potential timing and results of the search  for strategic alternatives and management's future plans.  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.


CONTACT:  Rodinia Oil Corp.Suite 320, 715 5 Ave. SWCalgary, Alberta, Canada T2P 2X6Telephone: [phone]Toll Free: [phone]Fax: [phone]Email: [e-mail]:www.rodiniaoil.com 


    

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