CORELLA RESOURCES LTD — Board/Management Information 2012

Feb 2, 2012

3 February 2012

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ASX Announcement

Board and Management Update

Exoma Energy Limited (ASX: EXE) announces the retirement from the Board of Directors of Dr Dave Mathew. Dr Mathew, an independent non executive Director of the Company, has advised the Board that his other business interests and associated international travel would not allow him to devote sufficient time to meet the demands of Exoma’s planned increased project activities over the next two years.

Dr Mathew said: “I am very proud to have been part of the team that has put Exoma on the map as an operator. In 2011 the Company made a conventional oil discovery that establishes a new model for oil exploration in the Eromanga Basin and has begun to demonstrate the Toolebuc Shale as a potential new oil and gas resource. 2012 is scheduled to be an extremely important year for Exoma as it consolidates its CSG exploration and begins to appraise its liquids projects.”

Chairman Brian Barker thanked Dr Mathew for his extremely valuable contribution to the development of the Company’s exploration program and for his counsel as a respected member of the Board.

Mr Barker further commented that Exoma would now proceed to evaluate and discuss with qualified interested parties the roll of independent non-executive director to replace Dr Mathew.

Appointment of Mr Vic Palanyk

Mr Vic Palanyk has joined Exoma as General Manager- Subsurface with responsibility for operational geology, reservoir engineering and reserve building. Mr Palanyk was most recently with Bow Energy Limited prior to its takeover by Arrow Energy, where he held the position of Chief Operating Officer and managed the expansion of the Company and building of CSG resources and reserves across the Company’s numerous projects.

Brian Barker said “Vic’s experience in the industry over the past 30+ years and in particular his experience in transitioning companies from exploration to development and production will prove invaluable to Exoma’s plans for 2012 and beyond. Vic, along with two other senior Exoma executives, is presently visiting US service companies to discuss Exoma's Toolebuc Shale oil and gas results from the 2011 drilling program.”

FURTHER INFORMATION

Rob Crook Chief Executive Officer +61 7 3226 5600 Email: rcrook@exoma.net

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