Exoma, CNOOC Finish 2012 Exploration Program

Exoma Energy Limited and CNOOC have finished the 2012 Galilee Basin drilling programme with the completion of Silverfox-1 exploration well.

The well was drilled to a total depth of 1170.7 metres and cutting samples of the Toolebuc shale were collected.  The shale samples will be subject to geochemical analysis; it is expected that this information will become available for interpretation in early 2013. The data from this well forms part of the Galilee Joint Venture’s assessment of the extent of maturity of the Toolebuc shale as an oil and gas resource.  

Exoma has a 50% beneficial interest in both ATP 1005P and the Silverfox-1 well.  CNOOC Galilee Gas Company Pty Ltd is earning its participating interest by a farmin whereby CNOOC provides the first $50 million of joint venture expenditures on Exoma’s five Galilee Basin ATP’s.