CORELLA RESOURCES LTD — Capital/Financing Update 2012

Aug 23, 2012

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24 August 2012

ASX Announcement

Exoma Spuds Nora-1 Exploration Well

Exoma Energy Limited (ASX: EXE) is pleased to announce that it has spudded Nora-1, the seventh well of the Galilee Joint Venture’s 2012 exploration program. This well will be drilled using EDA Rig #2.

The well will be a dual test of coal seam gas (CSG) in the Permian coal measures and shale oil/gas in the Toolebuc Formation shale.

Well Name	Nora-1
Permit	ATP 991P
Location	Galilee Basin, approximately 150km northwest of Longreach, Queensland.Details are shown on the attached map.
Target	Primary Target: Coal Seam Gas in the Betts Creek and Aramac coal measures.The coal measures will be cored for desorption testing, the well will be loggedand selected intervals may be tested to measure permeability.Secondary Target: Shale oil/gas in the Cretaceous Toolebuc Shale. The shaleformation will be control drilled and tested by chip sampling..
Planned Depth	Top Toolebuc Shale:566mTop Permian Coal1,222mPlanned total depth1,461m

Exoma has a 50% beneficial interest in both ATP 991P and the Nora-1 well. CNOOC Galilee Gas Company Pty Ltd is earning its participating interest by a farmin whereby CNOOC provides the first $50 million of joint venture expenditures on Exoma’s five Galilee Basin ATP’s.

FOR FURTHER INFORMATION

Rob Crook Chief Executive Officer +61 7 3226 5600

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