CORELLA RESOURCES LTD — Capital/Financing Update 2008

Apr 7, 2008

ADDRESS INFORMATION Ground Floor, 47 Stirling Highway NEDLANDS, Western Australia 6009 PO Box 3445, BROADWAY NEDLANDS, Western Australia 6009 ABN 56 125 943 240

CONTACT INFORMATION Phone: +61 8 9389 9400 Fax: +61 8 9389 8700 E-Mail: info@exoma.net Internet: www.exoma.net

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8 April 2008 Mr Greg Coulson Australian Stock Exchange Level 8, Exchange Plaza 2 The Esplanade, Perth Western Australia 6000

ASX Release

Exoma signs second Anadarko Basin Agreement

Exoma Energy is pleased to announce it has entered into a Joint Participation Agreement (JPA) with Canyon Exploration to explore, develop and produce oil and gas in the Anadarko Basin, Oklahoma.

The two companies will jointly pursue acreage acquisition opportunities in the Anadarko Basin, utilising Canyon’s very experienced land and leasing skills, and Exoma’s geological resources to identify and add to the Companies’ acreage portfolio.

It is expected the first well to be drilled under this JPA will spud in the third quarter of 2008. The final commitment will be determined after the completion of the land “pooling” process for the target acreage.

Under the Agreement, Canyon will assume Operatorship and 50% of any new oil and gas leases in 11 (eleven) Land Sections in T19N‐R26W, Ellis County, Oklahoma.

Each party will pay its proportion of leasing, title and recording costs. Exoma has already contributed US$100,000 to commence leasing negotiations.

This Agreement complements the recently announced Joint Operating Agreement of 4 April, in which Crusader Energy farmed into three (3) sections of Exoma’s Anadarko Basin acreage to drill horizontal wells.

Canyon Exploration is based in Amarillo, Texas and has operated extensively throughout the Anadarko Basin for the last 20 years. It usually participates in horizontal and vertical wells targeting multiple formations.

Managing Director David Rowbottam said: “This Agreement formalises a relationship that has already borne positive results for Exoma. Our two companies have already worked on a number of interesting opportunities which we’re in the process of prioritising, so we’re very pleased that our complimentary skill sets are already generating prospects.”

“This will result in adding further drilling and development opportunities to our portfolio and helps us address the challenge of securing an active forward drilling programme for our shareholders.”

Please direct any enquiries to: Brendan Egan on +61 8 9389 9400 or +61 414 816 716.

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