Rodinia was established in 2006 in Calgary, Alberta. Originally founded as Officer Basin Energy, Inc., the company focused on high impact oil and natural gas development in Australia’s Officer and Georgina Basins. As one of the first companies of its kind to conduct exploration in Australia’s southern and western basins, the company secured substantial early financing to conduct initial geologic and exploration programs in the region. In 2008, Officer Basin Energy was re-named Rodinia Oil Corp., re-aligning its operational strategy to focus on hydrocarbon exploration and development solely in the Officer Basin. According to geological surveys, the Officer Basin has similar geological features with basins in Siberia, Russia and Oman in the Persian Gulf, which possess billions of barrels of light oil reserves.
Today, Rodinia has an estimated 85 per cent working interest in 23 million acres of land containing prospective (recoverable) un-risked, undiscovered resources totaling 125.7 billion barrels of oil.The independent resource-evaluation firm, Ryder Scott Company Consultants Ltd. (Ryder Scott), has estimated that of this amount, the first 10 drilling locations are estimated to contain 26.2 billion barrels of oil.
In May of 2010, Rodinia began trading publicly on the TSX Venture Exchange under ROZ. Rodinia projects drilling to begin in the first quarter 2011 and, with drilling success, production to commence by late 2011.
2006
- Officer Basin Energy Inc. is established
2007
- Farm-out 20% working interest of PEL 81 & 253 for $6.75MM (Feb)
- Registered Special Prospecting Authorities (SPA) 5 & 6 and PELA 351
- Two financings raise $11 million (Aug)
- Farm-in on Georgina Basin (Nov)
- Aeromagnetics & aerogravity programs in the Western Australian section of the Officer Basin are completed (14,500 km)
2008
- Officer Basin Energy, Inc. becomes Rodinia Oil Corp.
- Phase I of seismic program covering 985 km is completed
- Resource Evaluation conducted by independent resource evaluation firm Ryder Scott
- Registered PELA 445 in S.A.
- Rights Offering closed ($1.4 million)
- Jim Buckee, former CEO of Talisman Energy, is appointed to Rodinia’s Board of Directors
2009
- Phase II of the seismic program, covering 526 km completed in March
- 10 drill leads identified on seismic
- Wester Australia SPAs converted to Exploration Permit Applications (EPA)
- Rodinia divests its interests in the Georgina Basin to Australia Energy Corp. (“AEC”) for 2 million shares of AEC
- Independent reservoir-evaluation firm Ryder Scott publishes Fair Market Value Report on Rodinia Oil Corp., estimating the fair market value of the Corporations land holdings at CAD $77 million
2010
- Rodinia files preliminary long form prospectus in April (see www.sedar.com for further details)
- Final prospectus filed in May (see www.sedar.com for further details)
- Rodinia announces Initial Public Offering on May 28th, 2010 and begins public trading
- Rodinia closes IPO over-allotment option
- Rodinia granted two new Petroleum Exploration Permit Applications (EPA) for the Officer Basin in Western Australia.
Please refer to Rodinia’s preliminary long form prospectus as filed on SEDAR at www.sedar.com for further details of the company, current and planned operations and its’ corporate history.
