Exoma Energy Spuds Darr-1 Shale Well

Exoma Energy has spudded Darr-1 its second well in its 2012 exploration program with CNOOC in the Galilee Basin, Queensland. Darr-1 will be a core well sampling shale oil and gas in Toolebuc shale.

Analysis of this core will provide information on the distribution of shale properties needed for the appraisal of the shale resource identified by the Bessies, Euston and Katherine wells drilled in 2011.

The well has also been located to provide a low cost secondary test of the southern extent of the Permian Coal Measures in ATP 1005P by quickly drilling to basement after coring the Toolebuc shale.

While Exoma does not expect to intersect any coal here, the log data is expected to confirm the structural geology that affects the Bradley Creek-1 coal seam gas well that will be drilled later this year.

Darr-1 will be plugged and abandoned after it is drilled and logged.

CNOOC is earning its 50% stake in the five Galilee Basin blocks by providing the initial A$50 million of joint venture expenditures.