Sentinel Rock Oil Corporation
TSX VENTURE : SEN

Sentinel Rock Oil Corporation

November 28, 2008 16:42 ET

Sentinel Rock Oil Corporation: News Release

CALGARY, ALBERTA--(Marketwire - Nov. 28, 2008) - Sentinel Rock Oil Corporation (TSX VENTURE:SEN) ("Sentinel Rock" or the "Company") has filed its Unaudited Financial Statements and Management Discussion and Analysis ("MD&A") for the third quarter ended September 30, 2008 on SEDAR. The documents can be assessed on SEDAR's site at www.sedar.com.

Selected Quarterly Information

The following table provides a summary of key financial results.



THREE MONTHS ENDED NINE MONTHS ENDED
--------------------------------------------
SEPTEMBER SEPTEMBER SEPTEMBER SEPTEMBER
30 30 30 30
2008 2007 2008 2007
$ $ $ $
FINANCIAL

Cash flow from operating
activities
(includes working capital
change) (268,964) (105,974) (378,322) (331,210)

Net and comprehensive loss (278,648) (86,351) (816,461) (245,164)
Basic and diluted loss per share (0.010) (0.004) (0.030) (0.013)

Total Assets 6,721,163 3,173,073
Total Liabilities 401,633 489,486

SHARES OUTSTANDING

Common shares outstanding -
basic 28,493,855 19,203,836


CAPITAL EXPENDITURES

Total capital expenditures for the nine months and quarter ended September 30, 2008 were $2,655,905 and $228,098 respectively. Capital spending is up from $1,663,821 and $12,041 for the corresponding periods in 2007. The increased capital activity during the quarter ended September 30, 2008 is due in part to invoices still being received for clean up from the drilling program conducted earlier this year and to lease acquisition.

NET INCOME

The net and comprehensive loss for the nine months and quarter ended September 30, 2008 was $816,461 and $268,648.

LIQUIDITY

As at September 30, 2008, the Company had a working capital deficiency of $73,306. The decrease in working capital is due in part to additional drilling and seismic related charges at the Company's Hoole prospect and to general and administrative expenses related to its amalgamation with Sabrich Capital and resulting public listing.

ABOUT SENTINEL ROCK

Sentinel Rock is a publicly traded energy company involved in the exploration and development of oil and natural gas properties in Western Canada.

FORWARD-LOOKING INFORMATION

This press release includes forward-looking statements and assumptions respecting Sentinel Rock's strategies, future operations, expected financial results, financial sources, commodity prices, costs of production and quantum of oil and natural gas reserves and discusses certain issues, risks and uncertainties that can be expected to impact on any of such matters. By their nature, forward-looking statements are subject to numerous risks and uncertainties that can significantly affect future results. Actual future results may differ materially from those assumed or described in such forward-looking statements as a result of the impact of issues, risks and uncertainties whether described herein or not, which Sentinel Rock may not be able to control. The reader is therefore cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Sentinel Rock undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Sentinel Rock Oil Corporation
    Bryce Bonneville
    Vice-President, Business Development
    (403) 538-8441
    (403) 206-7746 (FAX)