Australia: Exoma Provides Alma‐1 Well Drilling Update

Exoma Energy announced interim drilling results for the Alma‐1 exploration well.

At 11.00 am the well was at 1042 metres depth and the operation on site was coring in the Rewan formation, immediately above the Betts Creek coal measures. The actual form ation depth encountered in the well is about 15 metres deeper than the pre‐drill estimate.

Chip samples of Toolebuc shale were recovered across an interval of approximately 19 metres, starting at 451 metres depth. The true thickness of the shale will be measured when the geophysical logs are run at the end of drilling operations.

Exoma has a 50% beneficial interest in both ATP 996P and the Alma‐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.

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LNG World News Staff, May 17, 2012