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Exoma Energy And CNOOC Continue Galilee Basin Drilling Campaign

Exoma Energy (ASX: EXE) and CNOOC have completed the Rocky Creek-1 exploration in the Galilee Basin, Queensland, and will now move to drill the Brixton-2 well.

Rocky Creek‐1 in ATP 999P was drilled to a total depth of 963 metres and cored 43.6 metres including a 27 metre section of the Toolebuc Shale formation.

The shale samples will be subject to geochemical analysis.

Data from Rocky Creek‐1 will form part of the Galilee joint venture's assessment of the extent of maturity of the Toolebuc Shale as an oil and gas resource.

The EDA-1 Drill rig will now move to drill Brixton-2, a coal seam gas core well in ATP 1008P.

CNOOC is earning a 50% interest in ATP 999P and the other four permits that make up the Galilee joint venture by providing the first $50 million of joint venture expenditures.

Furthermore, it has expanded its agreement with Exoma and will take an additional 10% stake in the five permits by carrying a further A$12.7 million in expenditures under the Additional Farm-in Period, which expires on 31 December 2015.

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