The board of Australian Canadian Oil Royalties, Ltd. announced the appointment of two executives: William Petrie Sr. and Jesse Meidl. Mr. Petrie has been involved as President and Director for a number of public and private oil and gas companies. In these positions he was responsible for generating, evaluating, and successfully exploiting oil and gas exploration, development, and acquisition opportunities throughout North America. Mr. Meidl is Chief Financial Officer of a private international energy company. The company also announced that Robert Kamon has retired from the board, and has also relinquished his duties as corporate secretary. In the second quarter of 2012, the company will be undertaking a workover program of certain wells on PL 40 and PL 280 which will reactivate two old wells at a cost of AUD 400,000. The workover program is anticipated to bring total field production to approximately 25 barrels of oil per day. The company will also be obtaining an updated reserve and resource report over all of the assets in the company's portfolio, including the Surat basin assets and the company's ATP 582 in the Georgina basin. It is anticipated the report will be finalized in the second quarter of 2012.