Exoma Reports on Hollowback-1

Exoma Energy Limited announced interim results from the Hollowback-1 well targeting coal seam gas in the Permian coal measures of the Galilee Basin in Central Queensland.

Drilling to an actual depth of 1374 metres encountered 9 metres of coal and a 25 metre section of Toolebuc Shale.

Due to the onset of the summer wet weather season in Central West Queensland, drilling operations will be suspended after the completion of Hollowback-1 until the end of the wet season. Exoma plans to resume drilling in March 2012.

Located in the ATP 996P approximately 175km North of Longreach, Hollowback-1 is the seventh well of Exoma' s 2011 exploration campaign.

Exoma has a 50% beneficial interest in both ATP 996P and the Hollowback-1 well. CNOOC Galilee Gas Company Pty Ltd is earning its participating interest by a farmin whereby CNOOC provide the initial $50 million of joint venture expenditures on Exoma’s five Galilee Basin ATP’s.