CORELLA RESOURCES LTD — Capital/Financing Update 2012

May 23, 2012

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24 M a y 2012

ASX Announcement

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Drilling Update: Alma‐1 CSG Exploration Well Completed

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Exoma Energy Limited (ASX: EXE) annou n ces the Al m a‐1 explor a tion core w ell was drill e d to a total d epth of 130 2 metres an d has been c ompleted f o r future tes t ing.

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The w ell cored a 217 metre s ection of B etts Creek a nd Aramac coal meas u res. A tot a l of 15 metre s of coal sa m ples were put on desor p tion testin g to measure gas conten t .

In addition chip s a mples were taken from a 44 metre section of T o olebuc Shale. The shale chips show e d signs of h ydrocarbons during sa m pling and will be analysed as pa r t of Exoma ’ s 2012 shale a ppraisal pr o gram.

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The w ell has bee n logged, cased and su s pended for future per m eability te s ting, which will be conducted later in 2012. The drill rig has b e en release d to move to the next w e ll, Darr‐1. T he well locati o ns are sho w n on the attached map.

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Exom a has a 50% beneficial i n terest in b o th ATP 996 P and the Al m a‐1 well. C NOOC Gali l ee Gas Comp a ny Pty Ltd is earning its participating interest by a farmin whereby C N OOC provi d es the first $ 5 0 million of joint ventu r e expenditures on Exo m a’s five Galilee Basin AT P ’s.

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FURTHER INFORMATION

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

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