prior sentiment pel 108 109 112

CISCO, Texas -- Shooting $AU850,000 New Seismic Data 51% "Wildcat" Drilling Success Ratio in Cooper/Eromanga Basin

Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF.OB) is pleased to announce that after witnessing the phenomenal 51% "Wildcat" drilling exploration success rate by new junior oil companies in 2004 in the South Australian Cooper/Eromanga Basin. ACOR management has agreed to contract with Terrex Seismic and acquire approximately $AU850,000 worth of new 2-D seismic data on the concession to locate precise drilling locations on ACOR's vast working interest holdings on Petroleum Exploration License 108, 109 & 112. ACOR management has also retained the services of a well-known Geophysicist for the Cooper/Eromanga Basin, Mr. Andy McGee to interpret the data after it is processed.

The seismic will be shot sometime between April & June 2005.

ACOR's technical staff has already identified 49 leads on PEL 112, 19 leads on PEL 108, & 17 leads on PEL 109 from the old seismic data. PEL 108 has a huge undrilled anticline that covers almost 122,000 acres with approximately 500' of closure. The closest anticline of that size in the basin is the Tirrawarra Oil Field with approximately 12,000 acres in size and 540' of closure.

The Tirrawarra Oil Filed was discovered in 1970 and has already produced approximately $US814,000,000 worth of oil, gas and associated hydrocarbons with estimated remaining reserves of 70,000,000 barrels of oil and 350 Billion cubic feet of gas.


seems it was sought after few years back....