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ACOR Estimates Possible $500,000,000 in Reserves From Just One of Six Prospects on Offshore Australia VIC/P60; Come See Us at Summer NAPE Booth #207

Posted on: Thursday, 18 August 2005, 12:00 CDT

Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) is pleased to announce that ACOR has been extremely busy on the seismic program on VIC/P60 in conjunction with its partners. ACOR owns a 25% interest in the 339,700 acre offshore Australia petroleum permit VIC/P60, located in the prolific Bass Strait. ACOR has furnished the $US29,000 Kingdom seismic program and computer equipment to our 50% W.I. partner Holloman Corporation for use in studying VIC/P60. Holloman Corp. has one of the best geophysicists in Texas, Mr. Roy Whiting.

Roy has been working full time on Permit 60 since the first of the year. There have been a number of 2-D seismic programs run over Permit 60 in different years and using different programs. Roy is doing a marvelous job putting the seismic together and ordering additional lines. He estimates there are approximately 5,000 seismic lines extending into or crossing the area and has in conjunction with Kingdom built a special seismic program to correct for near surface channeling on VIC/P60.

ACOR is pleased to report that after studying over 5,000 seismic lines in and around VIC/P60, Roy has identified six (6) structures. One of the six (6) structures lies in 100-200 meters of shallow water and is estimated to contain approximately $500,000,000 reserves, if filled with hydrocarbons. The structure is approximately 4 miles long and 1.5 miles wide. The seismic line of the structure shows brilliant high amplitude bright spots in the Golden Beach formation.

VIC/P60 is located in a world-class petroleum province with remaining reserves estimated at 600 million barrels of oil and 5 trillion cubic feet of gas. Despite its long history of extensive exploration, many parts of the basin, especially the eastern region, are still poorly understood. New players have entered the exploration scene and the amount of seismic data, particularly 3D, is increasing. For such a prolific basin, the Gippsland Basin is relatively unexplored and ACOR believes there is still considerable potential for significant discoveries.

Gippsland Basin Production:

VIC/P60 is located in the prolific Gippsland Basin, in excess of 4 billion barrels of oil/condensate and 12 TCF gas reserves have been produced in the Gippsland Basin.

Current production is around 140 thousand barrels per day of crude and 570 million cubic feet per day of gas. At peak rates, The Gippsland Basin can deliver more than 1000 million cubic feet a day. VIC/P60 is adjacent to giant producing fields and proximal to existing infrastructure and an expanding gas market.

For example:

The Barracouta Field has produced 1.1 Trillion cubic feet of gas from 7 wells or 125 BCF per well.

The Marlin Field has produced 2.4 TCF gas from 19 wells or 126 BCF gas per well.

The Halibut Field has produced 840,000,000 bbls from 14 wells or 60,000,000 bbls oil per well.

The Fortescue Field has produced 280,000,000 bbls oil from 28 wells or 9,285,740 bbls per well.

The Cobia Field has produced 135,000,000 bbls oil from 20 wells or 6,700,000 bbls oil per well.

The Kingfish Field 1.1 Billion bbls oil produced from 41 wells or 26,000,000 bbls oil per well.

ACOR is very excited about the income potential VIC/P60 represents to the Company and it's shareholders. ACOR's management believes this is the most important discovery in the company's history.

Summer NAPE Exhibitor Booth #207

ACOR will be attending the Summer NAPE Oil & Gas prospects convention in Houston, Texas at the George Brown Convention Center August 24-25 to attract investor participation in VIC/P60 and other ACOR working interest assets to prospective oil & gas companies.

About Australian-Canadian Oil Royalties Ltd:

ACOR has a bright young aggressive president, Andy Sakhai. He has doubled the Public Relations Program. The stock price has already increased in value with a sizable increase in volume. He wants to drill PEL 112 because ACOR has discovered a large new structure in the NE corner of the most easterly NE corner of PEL 112 where we have been shooting new seismic. The wells on the adjoining block to the east have pipeline runs of approximately $25,000,000 a year per well and cost approximately $1,000,000 to drill and complete.

ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT.

ACOR's principal assets consist of 15,293,450 gross surface acres of overriding royalty interest and 8,900,776 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait.

ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF."

Summary:

Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interest and overriding royalty interest are located offshore & onshore in the best producing basins.

Visit our website to see a complete 26 page report on VIC/P60 at: http://www.aussieoil.com.

Disclaimer:

Except for historical information contained herein, the statements released are forward-looking statements that are made pursuant to the provision of the Private Securities Litigation Reform Act of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.

Source: Business Wire

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