Exoma Spuds Eighth Well of the Galilee JV Program

Exoma Energy Limited has spudded Rocky Creek-1, the eighth well of the Galilee Joint Venture’s 2012 exploration program.  The well will be drilled to log and core the shale oil and gas in the Toolebuc.

This well will provide further data for Exoma’s evaluation of the oil and gas resource in the Toolebuc Shale.  Analysis of core samples will provide additional information on the distribution of shale properties which will continue appraisal of the shale oil & gas resource identified by the Bessies/Euston/Katherine wells in 2011.

The well is specifically designed for shale exploration.  It is planned that the well will be plugged and abandoned after it is drilled, cored and logged.

Exoma has a 50% beneficial interest in both ATP 999P and the Nora-1 well.  CNOOC Galilee Gas Company Pty Ltd is earning its participating interest by a farmin whereby CNOOC provides the first $50 million of joint venture expenditures on Exoma’s five Galilee Basin ATP’s.

The JV is drilling 22 well to appraise the coal seam gas, conventional oil and shale oil and gas resources in their acreage, which covers 27,000 square kilometres.