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Exoma Energy To Announce Farm Out And Strategic Placement

Exoma Energy (ASX: EXE) is poised to announce a farm out and strategic placement and has gone into an ASX trading halt pending its release.

Exoma and partner CNOOC are currently carrying out an aggressive 22 well drilling program within the five permits that make up their 27,000 square kilometre Galilee Basin joint venture.

CNOOC had also flagged that it would participate in four new permits that Exoma had been awarded by the Queensland government in June.

These are adjacent to its original acreage and cover 19,000 square kilometres.

The halt will last until the earlier of the release of the announcement or the opening of trade on Tuesday 11 September 2012.

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