Exoma Confirms Shale Potential

Exoma Energy Limited has announced that it has found shale oil and gas potential at Toolebuc shale cores, the company said in a staement.

The independent reports confirm the estimates of the potential hydrocarbons in place at Bessies-1 which Exoma announced in December.

Exoma is meeting with CNOOC in Beijing this week to discuss these results and review forward program plans, including the 2012 drilling program.

Exoma has a 50% beneficial interest in Bessies -1 and ATP-999-P. CNOOC Galilee Gas Company Pty Ltd, a local subsidiary of China National Offshore Oil Corporation, is earning its participating interest via a farmin whereby CNOOC provide the initial $50 million of joint venture expenditures on Exoma's five Galilee Basin ATP's.