Exoma Spuds Tenth Well of the Galilee JV Program

Exoma Energy Limited has said that it has spudded Wardoo‐1, the tenth well of the Galilee Joint Venture’s 2012 exploration program.  This well will be drilled using EDA Rig #2.

The well will be a test of coal seam gas (CSG) in the Permian coal measures and shale oil and gas in the Toolebuc formation.  The well is situated approximately 60 km north east of Winton, Queensland.

Exoma has a 50% beneficial interest in both ATP 991P and the Wardoo‐1 well.  CNOOC Galilee Gas Company Pty Ltd is earning its participating interest by a farm‐in whereby CNOOC provides the first $50 million of joint venture expenditures on Exoma’s five Galilee Basin ATP’s.