Rodinia Oil Corp.

May 04, 2011 09:01 ET

Rodinia Oil Corp. Announces Joint Venture Partner is Out of Administration

CALGARY, ALBERTA--(Marketwire - May 4, 2011) - Rodinia Oil Corp. ("Rodinia" or the "Corporation") (TSX VENTURE:ROZ) is pleased to announce that its joint venture partner in the Officer Basin is no longer under Administration.

On November 3, 2011, EnSearch Petroleum (Block 81) Pty. Ltd., EnSearch Petroleum (Block 253) Pty. Ltd., EnSearch Petroleum (WA) Pty. Ltd. and EnSearch Petroleum (Block 351) Pty. Ltd. (collectively "EnSearch") were placed in Administration in Australia following their parent corporation being placed in Administration in Singapore.

From the time when Rodinia became aware of the appointment of the Administrators, it has liaised extensively with them in order to protect and secure its financial and operational positions in the Officer Basin.

As EnSearch recently obtained new financing, it is no longer under Administration. As a result, Rodinia believes that EnSearch will now be able to meet its ongoing future financial obligations in a timely manner under its various joint operating agreements with Rodinia. Rodinia looks forward to continuing future joint operations with EnSearch.

About Rodinia Oil Corp.

Rodinia is an international oil and gas exploration corporation. Its Common Shares and Warrants are listed on the TSX Venture Exchange under the symbols "ROZ" and "ROZ-WT" respectively. Rodinia is engaged in the exploration, acquisition and development of onshore petroleum and natural gas assets in Australia's Officer Basin. Founded in 2006, Rodinia is one of the first companies to undertake onshore exploration in the Officer Basin and has access to large tracts of exploratory lands. 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 management's future 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 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.

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