Sentinel Rock Oil Corporation
TSX VENTURE : SEN

Sentinel Rock Oil Corporation

April 30, 2009 19:12 ET

Sentinel Rock Oil Corporation: News Release

CALGARY, ALBERTA--(Marketwire - April 30, 2009) - Sentinel Rock Oil Corporation ("Sentinel Rock" or the "Company") (TSX VENTURE:SEN) announces that it filed its audited financial statements and related management's discussion and analysis ("MD&A") for the year ended December 31, 2008. Certain selected financial and operational information for the year ended December 31, 2008 and the ended December 31, 2007 is set out below and should be read in conjunction with Sentinel Rock's audited financial statements and related MD&A. In addition the Company has filed reserves data and other oil and gas information for the year ended December 31, 2008 as mandated by National Instrument 51-101 Standards for Disclosure for Oil and Gas Activities of the Canadian Securities Administrators. These filings will be available in their entirety at www.sedar.com.

2008 HIGHLIGHTS

- Completed the amalgamation of Sentinel Rock Oilsands Corporation and Sabrich Capital Corporation to form Sentinel Rock Oil Corporation on May 15, 2008.

- The amalgamated company began trading on the TSX Venture Exchange under the symbol "SEN" on May 28, 2008.



3 MONTHS ENDED 12 MONTHS ENDED
December 31 December 31
2008 2007 2008 2007
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Net and Comprehensive Loss $ 298,790 $ 19,355 $ 1,115,251 $ 264,519

Net and Comprehensive Loss
per basic and diluted share 0.013 0.00 0.042 0.013

Total Assets $ 6,894,305 $ 5,787,888

Total Liabilities $ 1,264,248 $ 454,421

Capital Expenditures $ 2,827,684 $ 3,587,879

Common shares outstanding
- basic 28,493,855 23,904,694

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CANCELLATION OF RIGHTS OFFERING

On January 29, 2009, Sentinel Rock announced a private placement and rights offering. On April 3, 2009, Sentinel Rock closed its private placement having sold a total of 11,960,000 common shares for gross proceeds of $598,000. As a result of current market and economic conditions and the costs associated with proceeding with its previously announced rights offering, the board of directors have resolved to cancel the rights offering.

FORWARD-LOOKING STATEMENTS

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.

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
    Email: tcran@sroc.ca