2009-08-15-2009-01-01-2009-01-01

Purchased ORRI in 301,468 gross acres in VIC/P59 in Australia's Gippsland Basin.

Australian-Canadian Oil Royalties Ltd., Cisco, Texas, (OTCBB: AUCAF) has purchased an overriding royalty interest in a property in Australia's Gippsland Basin. VIC/P59 consists of 301,468 gross acres and is adjoined by the Blackback Oil Field, which has estimated reserves of 80 million barrels of oil. Apache Energy Ltd., VIC/P59's operator, will begin drilling the Madfish-1 exploration well at a planned total depth of 9,284 feet, targeting possible mean reserves of 33.6- to 41.7 million barrels of oil. After Madfish, Apache will drill the Elver-1 prospect to a planned total depth of 10,334 feet, targeting possible mean reserves of 39.5- to 51.3 million barrels of oil. Australian-Canadian Oil has interests in the Cooper-Eromanga Basin, the Gippsland Basin and the Carnavon Basin in western Australia.