Rodinia Oil Corp. commences drilling its second exploratory well, "Kutjara-1", in the Officer Basin, South Australia

    




 CALGARY, Nov. 3, 2011 /CNW/ - Rodinia Oil Corp. ("Rodinia") is pleased  to announce that it has spudded its second exploratory well,  "Kutjara-1", in the Officer Basin, South Australia. 

 Highlights 




        --  The Kutjara-1 well commenced drilling on November 2, 2011 with
            the objective of appraising the Kutjara structure
        --  The well is targeting multiple prospective Neoproterozoic
            reservoirs
        --  The well's target depth is 2,668 metres and it is expected to
            take approximately eight weeks to drill to total depth ("TD")
        --  Kutjara-1 is the second well in Rodinia's Officer Basin
            exploration program




 Kutjara-1 Well 

 Kutjara-1 is located in the west central portion of PEL 253  approximately 45 kilometres southeast of Rodinia's first well,  Mulyawara-1. Rodinia has an 80% working interest in PEL 253 and is the  operator. The Kutjara structure has been well defined by recently  acquired infill 2D seismic. The structure is large (approximately 12 km  by 3 km), defined by six seismic lines and has multiple potential  reservoirs. It is also offset by several other large closed structures  that could be followed up on if this well is successful. 

 Based on lessons learned and information gathered by Rodinia at  Mulyawara-1, Kutjara-1 will be drilled using the following modified  drilling techniques in order to improve drilling efficiencies and lower  costs: 




        --  Drilling a smaller diameter hole throughout
        --  Dropping several casing strings from the original well design
        --  Eliminating the air pack/hammer drill assembly, which will
            reduce damage to the bottom hole assembly and related twist
            offs, fishing runs and tripping time
        --  Achieving higher average rates of penetration by using PDC bits
            rather than tricone bits




 The primary objective of Rodinia's current capital program is to  appraise the potential of the large structures currently identified on  its lands in the Officer Basin, South Australia. The Mulyawara-1 well  substantially added to Rodinia's knowledge of the geologic and  hydrocarbon potential of the Officer Basin. Rodinia will continue to  expand its understanding of the extent and reservoir potential of the  Neoproterozoic formations with Kutjara-1. However, Kutjara-1 is a  high-risk exploration well, which is yet to be proven. 

 Paul Bennett, Chief Executive Officer and President, commented: 

 "We are excited to spud Kutjara-1, the second well in our current  Officer Basin exploration program. Our immediate objective with this  well is to appraise several potential reservoirs in this structure, one  of several large prospective structures that we have identified on our  lands." 

 Financial Update  

 Rodinia's current net working capital is approximately $16.4 million.  The budgeted cost of Kutjara-1 is approximately $7 million (Australian  dollars). 

 Rodinia is currently exploring options for additional partner  participation and the potential to bring in a smaller rig to drill  future wells. 

 As Rodinia is in the early exploration stage and is operating in the  remote and under-explored Officer Basin in Australia, its ability to  finance its future operations is dependent upon the existence of  economically recoverable hydrocarbons and its ability to obtain new  sources of financing. 

 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.  

Rodinia Oil Corp.


CONTACT:  Susan Showers, Manager, Investor RelationsRodinia Oil Corp.Suite 320, 715 - 5 Ave. S.W.Calgary, Alberta, Canada T2P 2X6Telephone: [phone]Toll Free: [phone]Fax: [phone]Email: [e-mail]: www.rodiniaoil.com 


    

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