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CORELLA RESOURCES LTD — Capital/Financing Update 2008
May 6, 2008
64703_rns_2008-05-06_9d5afe6b-1cfd-4964-9698-065736b036df.pdf
Capital/Financing Update
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Phone: +61 8 9389 9400 Fax: +61 8 9389 8700 Email: [email protected] Web: www.exoma.net
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Ground floor, 47 Stirling Hwy, NEDLANDS, Western Australia 6009 PO Box 3445 BROADWAY NEDLANDS, Western Australia 6009 ABN 125 943 24
7 May, 2008 Mr Greg Coulson Australian Stock Exchange Level 8, Exchange Plaza 2 The Esplanade, Perth Western Australia 6000
ASX Drilling update
Glory Road-1
Report Date: 6 May, 2008
Project: East Texas Exploration Programme Location: Hardin County, Texas Well: Glory Road‐1 Spud Date: 12 April 2008 Exoma Working Interest: 33%
Operator: Sterling Energy USA Operating, Inc. Objective: A 5.88bcf gas and 292,000 barrel oil target in the Yegua Formation. Target Depth (TD): 13,000 feet
Current Depth: 9710 feet
Progress: The well spudded on 12[th] April and was drilling ahead at 9710 feet. Increased downhole pressures and high background gas readings have caused the Operator to increase the mud weight before drilling ahead. Glory Road‐1 is expected to reach Target Depth later this week.
Drilling updates will be reported every Wednesday in accordance with ASX Listing Rule 3.1
Please direct any enquiries to:
Brendan Egan on +61 8 9389 9400 or +61 414 816 716
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