AUSTIN, Texas, July 23, 2012 /PRNewswire/ -- Rockdale Resources Corporation (OTC QB: BBLS), an Austin, Texas-based early-stage oil development and production company, has announced the drilling of its first five wells on the company's Rockdale Field, approximately 50 miles northeast of Austin.

The company has recently raised over $3 million in new equity funding in a private placement of the company's common stock.  The proceeds from the private placement were used to acquire rights on a 500 acre lease and to drill five new wells.

"We are excited to announce the successful drilling of our first five wells," stated Michael D. Smith, company president. "The core samples and electric logs from our first wells show a promising productive zone."

The company is moving forward with the completion of the wells and plans to have all producing within thirty days.  The company plans to utilize advanced technology such as fracing and pressurization of the wells to increase production rates, slow decline curves and expand the ultimate amount of oil recovered in each new well.

At the Rockdale Field the Railroad Commission of Texas has approved the drilling of one well per two and a half acres, or 40 new wells per 100 acres, with the possibility of even tighter spacing in the future.  The company plans to expand its lease position and drilling schedule.

About Rockdale Resources Corporation

Rockdale Resources Corporation is a domestic oil exploration and production company. Rockdale focuses on new oil wells in established areas of oil production. The company utilizes state of the art technology to maximize production and to identify areas with the greatest potential. The company's core area of operations is in the Minerva-Rockdale Field in Rockdale, Texas, which has produced over 7 million barrels of oil since its first wells were established in 1921. Rockdale's corporate offices are located in Austin, Texas.

This press release may contain forward-looking statements. Actual results could differ materially from a conclusion, forecast or projection in the forward-looking statement. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection in the forward-looking statement.

SOURCE Rockdale Resources Corporation