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. To date, a total of 11 trillion cubic feet of
gas and 320 million barrels of oil have been discovered, including 8.

The Santos/Exxon et al Producing Block

The Santos /Exxon et al Producing Block is Australia's largest
onshore producing block and is located in South Australia. Such risks and
uncertainties include, but are not limited to, market conditions,
competitive factors, the ability to successfully complete additional
financings and other risks.5 miles
southeast of Apache's Varanus Island production hub.

This release contains certain "forward-looking statements" as defined by
the Private Securities Litigation Reform Act of 1995, including, without
limitation, expectations, beliefs, plans and objectives regarding reserves and
the costs of developing new discoveries. Among the important factors that
could cause actual results to differ materially from those indicated by such
forward-looking statements are future exploration and development results and
the availability of needed equipment and personnel.

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Part of Apache's
2005 program to increase Lower-Cretaceous Flag Sandstone oil production, the
well is flowing 10,690 barrels of oil per day from a 398-foot horizontal
interval.

society description

This initial discovery was followed by the
Christies-1 oil discovery in July 2003. Both the Sellicks and
Christies oil fields adjoin ACOR's PEL 112 to the North . ACOR has NO LONG-TERM DEBT.

people australia

South Australia Cooper-Eromanga Basin

The Cooper Basin (including the overlying Eromanga basin) is
Australia's largest onshore oil and gas basin and a world class
hydrocarbon province.

Apache's Mohave Well Boosts Australian Oil Production; Discovery Flowing 10 690 Barrels of Oil Per Day

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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.
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.

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animated description

(herein called ACOR)
(OTCBB:AUCAF. In 2000, ACOR was the successful bidder on the ex
Santos/Exxon acreage, now called PEL 108, 109, + 112. HOUSTON, Apache Corporation
(NYSE, Nasdaq: APA) announced today that its Mohave-1H new-field discovery in
the Carnarvon Basin offshore Western Australia is on stream. The discovery, the most
recent in this year's 44-well exploration and development program, encountered
an oil column of 42 net feet.5 percent interest.

torres people

PEL 108 has a huge undrilled anticline that covers almost 122,000
acres with approximately 500' of closure .

Below are some recent discoveries adjoining to the North and East
of PEL 112

Sellicks-1 Initial Potential 2160 Barrels Oil Per
Day
Christies-1 IP 500 BOPD
Christies-2 IP 1960 BOPD
Christies-3 IP 2397 BOPD
Worrior-1 IP 5390 BOPD
Worrior-2 IP 2000 BOPD

A discovery like any of these on PEL's 108, 109 or 112 with ACOR's
50% working interest could be a "Company-Maker" for ACOR.aussieoil. There is no assurance that
Apache's expectations will be realized, and actual results may differ
materially from those expressed in the forward-looking statements.

descriptions animated

Andy McGee to
interpret the data after it is processed .3
trillion cubic feet of gas and 130 million barrels of oil in the South
Australian sector.

1st Time in approximately 40 years

A phased acreage release program commenced in February 1998, when
all of the exploration acreage held by the Santos/Exxon et al
Producing Block since 1954 expired without right of renewal, unless
held by production.

About Australian-Canadian Oil Royalties Ltd:

ACOR management draws no cash salary."
The Mohave field is part of the Harriet Joint Venture, which Apache
operates with a 68.

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2 percent.

history descriptions

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.
"Development of new oil production from the Flag Sandstone is a key
component of Apache's 2005 Australian drilling program," said Eve Howell,
regional vice president and managing director of the company's Australian
operations.

australian australia

3
percent and Tap Oil with 12.

australia people

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 Mohave field is located in 26 feet of water approximately 4.

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Apache Corporation is a large oil and gas independent with core operations
in the United States, Canada, Australia, Egypt and the United Kingdom sector
of the North Sea.

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ACOR To Drill in South Australia / Possible ``Company-Maker''

Cooper Energy , a new junior oil company had its 1st discovery, the
Sellicks-1 in July 2002.

It was then sidetracked horizontally before
being completed and brought on production.

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ACOR's principal assets consist of 14,926,346 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.

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The seismic will be shot sometime between April + June 2005. The
Santos/Exxon Producing Block originally consisted of approximately
29,000 ,000 gross acres and is reportedly making approximately
$A930,000,000 per year in oil, gas, + associated hydrocarbons. "Proximity to existing Varanus Island infrastructure and our
ability to fully develop the field with a single horizontal well enhance the
economics of this project.

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This was a fantastic opportunity for junior
independent oil companies, like ACOR to be able to explore this highly
prolific region.

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ACOR management has also retained the services of a well-known
Geophysicist for the Cooper/Eromanga Basin, Mr.
Then Cooper Energy moved over to the adjoining block East of
ACOR 's PEL 112 and made the Worrior-1 oil discovery in September 2003.

people descriptions

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.
Since the first gas discovery in 1963, a total of 123 gas fields
and 58 oil fields have been discovered in the South Australian sector.

"

Summary:

South Australia is a "hot spot" for exploration and ACOR's onshore
working interest and overriding royalty interest assets are right in
the middle of it!
Visit our website to see more information at:
http://www. Its partners are Kufpec with 19.

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Business Editors /Energy Editors

CISCO, Texas----

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

Australian-Canadian Oil Royalties Ltd.
ACOR is a publicly traded oil company trading on the NASDAQ OTC
Bulletin Board Exchange under the trading symbol "AUCAF.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.

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- - kjjkjk

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