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Exoma Energy And CNOOC Continue Galilee Basin Drilling With Seventh Exploration Well

Exoma Energy (ASX: EXE) and CNOOC are continuing their 2012 exploration program in the Galilee Basin with the spudding of the Nora-1 exploration well that targets both coal seam gas and shale oil and gas.

Nora-1 is being drilled by the EDA Rig-2 in ATP 991P about 150 kilometres northwest of Longreach, Queensland.

Its primary target is the Permian Betts Creek and Aramac coal measures that will be cored for desorption testing. Logging will also be carried out and selected intervals may be tested to measure permeability.

Nora-1 also targets the shallower Cretaceous Toolebuc Shale, which will be control drilled and tested by chip sampling.

The well is part of a 22 well drilling campaign Exoma and CNOOC are drilling to appraise the coal seam gas, conventional oil and shale oil and gas resources in their acreage, which covers 27,000 square kilometres.

These are designed to deliver a strategic understanding of the basic geology within the 5 permits with the objective of defining the most favourable areas in which to develop reserves.

CNOOC is providing the initial A$50 million of joint venture expenditures to earn a 50% in ATP 991, 996, 999, 1005 and 1008.

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