Rodinia Oil updated its ongoing operations in the Officer Basin, South Australia.
Phase III Seismic Program
On March 3, 2011, Rodinia announced that it had entered into a Deed of Access with the Australian Department of Defence, allowing it to explore within the Woomera Prohibited Area ("WPA") within PEL 81 in South Australia. This Deed of Access allows Rodinia to enter the WPA, subject to various terms and conditions in relation to notification of timing for access, people entering and equipment to be used during the seismic survey.
Rodinia has proposed more than 400 kilometers of 2D seismic within the WPA. This program will commence shortly, in conjunction with its current seismic acquisition operations outside of the WPA, but all within PELs 81 and 253.
Rodinia has already acquired approximately 1,350 kilometers of 2D seismic during the Phase III seismic program. To date, much of the seismic acquisition has been around Rodinia's proposed 2011 drill targets to more specifically define the structures and drilling locations where Rodinia will be drilling in the near future.
2011 Drilling Program
Rodinia entered into a drilling contract with Ensign International Drilling in November 2010. This drilling contract includes four firm wells with the option to extend the contract to drill four additional wells (eight in total) with Ensign's Rig 16 as part of this program.
Rig 16 is currently under contract to a third party in the Cooper Basin, Australia, where there has been significant local rainfall and flooding (with accompanying road closures). Rig 16 is scheduled to be released from its current program in approximately three weeks. At that time, the rig will be moved approximately 2,000 kilometers (much of which is across unsealed roads) to the Officer Basin to commence Rodinia's four well exploratory drilling program. Rodinia will provide a further update once an actual spud date for the first well has been confirmed with a greater degree of certainty.
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