Sentinel Rock Oil Corporation

Sentinel Rock Oil Corporation

April 30, 2009 18:42 ET

Sentinel Announces Reserve Information

CALGARY, ALBERTA--(Marketwire - April 30, 2009) - Sentinel Rock Oil Corporation ("Sentinel" or the "Company") (TSX VENTURE:SEN) is pleased to announce that it has filed on Sedar it's reserve report for the period ended December 31, 2008 as evaluated by DeGolyer and MacNaughton Canada Ltd. ("D&M") and prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities.

This report documents the results achieved by the company on its activities previously reported throughout 2008 from its ongoing drilling programs.

Sentinel's President and CEO Tyler Cran commented, "Although we have financial challenges like many small juniors in this economic crisis we are pleased that our reserves and resultant net present values have not seen the drastic downward revision that others have. We believe that this maintained value will help Sentinel survive the current economy and exit the downturn as a successful company in the future."

The Reserves report will be available at


Based on reserves reports prepared by D&M, using forecast prices and costs, Sentinel's Gross Reserves for December 31, 2008 as compared to July 31, 2008 as follows (at 10% discount):

Dollars - Company share 2008 2009 % Change

Proved $ 528,000 $ 376,000 -29%

Proved + Probable $ 40,119,000 $ 32,559,000 -19%

Proved + Probable + Possible $ 112,376,000 $ 96,700,000 -14%

oil/STB - company share

2008 2009 % Change

Proved 0 0 0%

Proved + Probable 1,605,660 1,416,000 -12%

Proved + Probable + Possible 4,972,005 4,306,000 -13%

gas/MMCF - company share

2008 2009 % Change

Proved 145 150 3%

Proved + Probable 851 698 -18%

Proved + Probable + Possible 2,012 1,535 -24%

Combined Gas and Oil to standard BOE

2008 2009 % Change

Proved 24,167 25,000 3%

Proved + Probable 1,747,493 1,557,833 -10%

Proved + Probable + Possible 5,307,338 4,561,833 -14%

NAV Calculations

shares outstanding 28,493,855 2008 2009 % Change

Proved + Probable (2P) $ 1.42 $ 1.14 -20%

Proved + Probable + Possible (3P) $ 3.98 $ 3.39 -15%

NAV Calculations

fully diluted 28,493,855 2008 2009 % Change

Proved + Probable (2P) $ 1.32 $ 1.14 -14%

Proved + Probable + Possible (3P) $ 3.69 $ 3.39 -8%

- The net present value of Sentinel's proved plus Probable reserves decreased 19% to $32,559,000 while the NPV of the total Proved plus Probable plus Possible reserves decreased 14% to $96,700,000.

(1) Proved Reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves.

(2) Probable Reserves are those additional reserves that are less certain to be recovered than proven reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the proven plus probable reserves.

(3) Possible Reserves are those additional reserves that are less certain to be recovered than probable reserves. There is only a 10-percent probability that the quantities actually recovered will equal or exceed the sum of the proven plus probable plus possible reserves.

(4) The Net Present Value (NPV) based on D&M Forecast Pricing and costs, before taxes, discounted at 10%. The estimated NPV does not necessarily represent the fair market value of our reserves. There is no assurance that forecast prices and costs assumed in the D&M evaluations will be attained, and variances could be material.

Additional information on Sentinel Rock Oil Corporation is available on the Company's website at

All references in this release to BOE's are based on a 6 to 1 conversion ratio. Boe's may be misleading, particularly if used in isolation. A BOE conversion of 6 Mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Sentinel is a Calgary, Alberta based oil Exploration Company focusing on heavy oil with operations currently located in Northern Alberta and mid west Saskatchewan.

This news release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this news release includes, but is not limited to, references to: well drilling programs and drilling plans, estimates of reserves and potentially recoverable resources, and information on future production and project start-ups. By their very nature, the forward-looking statements contained in this news release require Sentinel Rock and its management to make assumptions that may not materialize or that may not be accurate. The forward-looking information contained in this news release is subject to known and unknown risks and uncertainties and other factors, which could cause actual results, expectations, achievements or performance to differ materially, including without limitation: imprecision of reserve estimates and estimates of recoverable quantities of oil, changes in project schedules, operating and reservoir performance, the effects of weather and climate change, the results of exploration and development drilling and related activities, demand for oil and gas, commercial negotiations, other technical and economic factors or revisions and other factors, many of which are beyond the control of Sentinel Rock. Although Sentinel Rock believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct.

40,435,855 common shares issued

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. 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
    Tyler Cran
    President and Chief Executive Office
    (403) 538-8441