ACOR to Shoot 190 Kilometers of Seismic in South Australia.

CISCO, Texas -- Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) is pleased to announce that the company has officially contracted with Terrex Seismic to begin shooting approximately 155 kilometers of 2-D Seismic on PEL 112 and approximately 35 kilometers of 2-D seismic data on PEL 108.

The properties are located in the prolific Cooper/Eromanga Basin, Australia's best onshore producing Basin.

ACOR has also hired Andy McGee, a highly respected Geophysicist. A crew of approximately 35 personnel will be working this spring and summer to perform the shooting & interpreting of the 190 kilometers of seismic on PEL 112 & 108.

Question: Why is ACOR exploring in the Cooper/Eromanga Basin?

        Answer: The Economics are FANTASTIC. See report below!

The following was taken from B.J. O'Neill author of "The
Cooper/Eromanga Basins Australia 1989":

As of 1989, when this study was conducted six hundred and sixty (660)
wildcat and appraisal wells have been drilled in the Cooper/Eromanga
Basin at a cost of approximately $US522,000,000.

The result, after drilling 660 wildcat & appraisal wells (including
dry-holes):

The discovery of 5.47 Trillion Cubic Feet of Gas reserves,

140,000,000 barrels of recoverable oil,

430,000,000 barrels of condensate,

On a per well basis this represents: $US42,389,898 per well worth of
reserves discovered.

It is very important to note that this report was based on $US29.89
per barrel oil and $US2.00 per MCF gas.

Crude oil is now trading over $US50.00 per barrel.

ACOR's 50% Working Interest part of the Seismic cost is approximately
$US400,000.  ACOR is planning to raise the funds through a private
placement immediately.

About Australian-Canadian Oil Royalties Ltd:

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 more information 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.