Exoma Reduces 2012 Exploration program

Exoma Energy Limited has reduced its 2012 exploration programme from 18 to 22 wells, to 12 to 14 wells.

The company said that unseasonably late summer rain and early winter storms caused significant delays and interruptions to the early part of the 2012 drilling programme.  In addition, the Joint Venture has decided to release EDA Rig#2 following the completion of Wardoo-1 to allow the joint venture to consider the results of its CSG program.

Exoma has previously said that the CSG results to date have been below expectations. The longer-term CSG exploration programme will be determined based on an analysis of the results of all CSG wells drilled by the end of 2012.  The 2013 program is likely to be based around appraisal of localised sweet spots, and/or studies to review the geological system of the coal measures.