Exoma Spuds Twelfth Well in Galilee JV Program

Exoma Energy Limited has spudded Silverfox‐1, the twelfth well of the Galilee Joint Venture’s 2012 exploration program. This well will be drilled using EDA Rig #1 and will test Toolebuc shale.

The well will be cored through the Toolebuc shale section and the core will be subject to laboratory analysis. On completion of coring, the well will be deepened to provide depth control to local seismic data.

Exoma has a 50% beneficial interest in both ATP 1005P and the Silverfox‐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.