It's always nice to know who the neighbours are. Texalta, who has acreage in the Georgina Basin next door to the Beetaloo, farmed out 50% of their land to Rodinia. Their play is almost geologically identical to the Beetaloo play. They must like the neighbourhood.
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Rodinia Oil Corp. is a private energy exploration company with a prestigious board of directors and an experienced management team, including Paul Bennett (President and CEO with 30+ years in senior management positions with Mobil/Exxon-Mobil) and Dr. James Buckee (former CEO of Talisman Energy Inc.).
Rodinia holds an 80% working interest in 18.3 million acres of the most prospective lands in the Officer Basin in South Australia with potential undiscovered, unrisked, prospective recoverable resources of 180.6 billion barrels of oil from multiple pools.
Rodinia’s affiliate company, Australia Energy Corp. holds an 18% working interest (with a right to earn up to 50% working interest) in 5.5 million acres in the Georgina Basin (Northern Territory, Australia) with potential undiscovered, unrisked, prospective recoverable resources ranging from 13 - 93 million barrels of oil per structure (structure density unknown).
Note: There are no discoveries to date on either property.
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The oil and natural gas basins of Australia were created approximately 800 to 540 million years ago (Neoproterozoic) when most of the world's land masses were merged as one super continent known as "Rodinia." As a result of the rifting of the super continent, as illustrated below, the Australian basins share analogous geological features with the Siberian and Arabian (Oman) basins. These analogous features include the existence of Cambrian/Neoproterozoic reservoirs with massive basil sands and similar source beds where tectonic subsidence resulted in the first geologic organic marine life, similar salt structures created by the evaporation of sea water and the subsequent creation of salts seals which are ideal for hydrocarbon trapping. With proven reserves in the Ghaba and Fahud salt Basins in Oman exceeding 6 billion boe, and proven reserves in the Irkutsk and Sakha basins of Siberia of 26.5 billion boe in addition to 165 tcf of natural gas, the Australian basins have potential for significant oil and natural gas reserves on the basis of these analogous geological features which have been identified through existing geological knowledge of the Australian basins.
