Sentinel Rock Oil Corporation
TSX VENTURE : SEN

Sentinel Rock Oil Corporation

June 11, 2008 11:42 ET

Sentinel Rock Releases Its Financial Statements

CALGARY, ALBERTA--(Marketwire - June 11, 2008) -

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Sentinel Rock Oil Corp. (TSX VENTURE:SEN) has released its March 31, 2008 Financial Statements and related Management's Discussion and Analysis ("MD&A"). The following are excerpts from the MD&A which can be viewed in its entirety on SEDAR at www.sedar.com.



SELECTED QUARTERLY INFORMATION

March 31, 2008 March 31, 2007
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Revenues
Interest Income 9,411 6,138
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Expenses
General and administrative 194,463 127,253
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Net income (loss) (185,052) (121,115)
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Income (loss) per share (0.03) (0.02)
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CAPITAL EXPENDITURES

Total capital expenditures during the first quarter ending March 31, 2008 were $2,181,413 up from $1,161,974 recorded in the same period last year. The increased capital activity during the period is due in large part to the additional drilling and seismic expenses that were incurred at our Hoole property. Sentinel Rock is in the process of establishing its new capital budget for 2008 fiscal year.

LIQUIDITY

As at March 31, 2008, the Company had net working deficiency of $22,008 comprised of current assets less its current liabilities. This has decreased from $1,969,590 from the year end statement December 31, 2007 due to additional drilling and seismic related charges at our Hoole prospect. Management considers this to be sufficient for the Company to meet its ongoing obligations considering the cash component of the Sabrich take over resulting in approximately $650,000 cash being transferred to Sentinel.

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 Oil Corp. 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 Oil Corp. Although Sentinel Rock Oil Corp. 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 not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Sentinel Rock Oil Corporation
    Bryce Bonneville
    (403) 668-0427
    Email: bbonneville@SROC.ca
    or
    Sentinel Rock Oil Corporation
    Tyler Cran
    (403) 538-8441
    Email: tcran@SROC.ca
    or
    Sentinel Rock Oil Corporation
    (403) 538-8448
    (403) 206-7746 (FAX)