Exoma Energy Spuds Fifth Well in Eromanga Basin

Exoma Energy has spudded the Katherine- 1 well, the fifth well of its 2011 exploration program.

The primary target of the well will be shale gas in the Toolebuc Formation of the Eromanga Basin in Central Queensland.  A secondary target will be to test a potential conventional oil play in the underlying Hutton sandstone as a follow up to the Toolbrac-1, a well drilled in 1985 that discovered oils shows in thin sand on lapping a basement high.

Exoma has a 50% interest in both ATP999P and the Katherine well. CNOOC Galilee Gas Company Pty Ltd. is earning its participating interest by a farm in by providing th initial $50 million of joint venture expenditures on Exoma's five Galilee basin ATP's.