Rocky Old Man Energy Inc.
TSX VENTURE : RO

October 18, 2007 17:22 ET

Rocky Old Man Energy Inc.: Press Release

CALGARY, ALBERTA--(Marketwire - Oct. 18, 2007) - Rocky Old Man Energy Inc. (TSX VENTURE:RO):

Rocky's production averaged approximately 76 barrels of oil equivalent ("boe") per day in the fourth quarter ended July 31, 2007. Average production declined from approximately 101 doe per day in the prior quarter. Production in the third quarter included significant production from our new Amber well. It commenced production in the third but was shut in for most of the fourth quarter. The production problems at Amber were resolved by September 2007 and the well is currently producing approximately 50 boe per day. Rocky has a 35% working interest in this well (67.5% after payout). Rocky also has a 7.5% gross overriding royalty on a well at Obed which commenced production in October 2007. As a result of these two wells Rocky anticipates an increase in production in the current quarter.

Rocky has filed its disclosure as required under National Instrument 51-101 ("NI 51-101") based on the results of its independent reserve evaluations conducted by Paddock Lindstrom & Associates Ltd. ("PLA"). The reports were prepared in accordance with NI 51-101 for the year ended July 31, 2007. The net present value of Rocky's proved plus probable reserves discounted at 10% increased to $8,138,000 on July 31, 2007 from $6,335,000 on July 31, 2006.

The reserve data provided in this release only represents a portion of the disclosure required under NI 51-101. Additional disclosure and a more detailed summary of reserves and future cash flows based on the PLA Evaluation dated July 31, 2007 may be found on www.sedar.com.

Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6,000 cubic feet of gas to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Rocky Old Man Energy Inc.
    David Calnan
    (403) 299-9606