ROCKY MOUNTAIN MINERALS, INC. Announces Sale of Petroleum Permit in Exmouth Sub-basin of Australia to BHP Billiton and Apache En

ROCKY MOUNTAIN MINERALS, INC. Announces Sale of Petroleum Permit
in Exmouth Sub-basin of Australia to BHP Billiton and Apache Energy 


PRESCOTT, Ariz., July 19  /PRNewswire-FirstCall/ -- ROCKY MOUNTAIN MINERALS,
INC. (OTC:RMMI) (BULLETIN BOARD: RMMI)  announced today that it and its Joint
Venture partners (Strata Resources N.L. and Octanex N.L.) have entered into an
agreement with BHP Billiton Petroleum Pty Ltd ("BHP") and Apache Energy Limited
("Apache") for the sale of a 100% working interest in WA-329-P, a petroleum
exploration permit in the offshore Exmouth Sub-basin of Australia. The permit
covers an area of 177,000 acres.

The terms of the Agreement provide an initial cash payment of $400,000, a
deferred supplemental cash consideration of $1,000,000 contingent upon the
operator drilling a well or maintaining the property into Year 5 of the permit,
whichever first occurs, and the grant of an overriding royalty interest ranging
from 2.75% to 3.75% with respect to any future production.

In announcing the agreement, President of RMMI, Mr. Ray Hill said, "The sale of
WA-329-P to BHP and Apache provides the joint venturers a great opportunity to
participate in an exploration program with major international oil companies in
a highly desirable and prospective area with little financial exposure or
commitment.  Beginning in 1998 several significant oil discoveries have been
drilled in the surrounding permit blocks by major companies, including BHP,
Apache and Woodside."

RMMI and its Exmouth partners sold exploration permit WA-322-P, immediately
north of WA-329-P, to BHP in 2004 under similar terms.  WA-329-P is currently
undergoing a large, multi-permit seismic assessment.  Mr. Hill noted, "We
believe that WA-329-P will become subject to the same level of exploration
commitment and work that we are seeing performed in the surrounding acreage."

The Exmouth Joint Venture percentage interests are:

RMMI, 25%; Strata Resources, 37.5%; Octanex, 37.5% 

DATASOURCE: ROCKY MOUNTAIN MINERALS, INC.



CONTACT:  W. Ray Hill-President of ROCKY MOUNTAIN MINERALS, INC.,

[phone], or fax, [phone]

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