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Exoma Energy Completes Culloden-1 Shale Exploration Well

Exoma Energy (ASX: EXE) has now drilled the Culloden-1 exploration core well in ATP 991P to a total depth of 1365 metres.

The well cored a 165 metre section of Betts Creek and Aramac coal measures, with a total of 14 metres of coal core samples having now been placed on desorption testing to measure gas content.

Also encountered was a 24 metre section of Toolebuc shale, with this section control drilled with chip samples recovered for laboratory testing - which will measure oil content and thermal maturity.

The well has been plugged and abandoned as planned. The EDA #2 drill rig has been released to move to the next well, Nora-1.

Exoma has a 50% beneficial interest in both ATP 991P and the Culloden-1 well, with the CNOOC Galilee Gas Company Pty Ltd earning its participating interest by a farm-in.

The farm-in includes CNOOC providing the first $50 million of joint venture expenditures on Exoma's five Galilee Basin ATP's.

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