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CORELLA RESOURCES LTD — Regulatory Filings 2011
Nov 8, 2011
64703_rns_2011-11-08_41e470fd-e58e-4622-bb57-cd879eb68c82.pdf
Regulatory Filings
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9 November 2011
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ASX Announcement
Drilling Update Shale & CSG Well - Hollowback -1
Exoma Energy Limited (ASX:EXE) announces interim results for Hollowback-1 the seventh well of its 2011 exploration campaign. The primary target of this well was Coal Seam Gas (CSG) in the Permian coal measures of the Galilee Basin in Central Queensland.
The well encountered 9 metres of coal and a 25 metre section of Toolebuc Shale. Drill cuttings from the Toolebuc Shale were collected for analysis and the well was logged without taking cores.
| Well Name: | Hollowback-1 |
|---|---|
| Permit: | ATP 996P |
| Location: | GalileeBasin,approximately175kmNorthofLongreach,Queensland. Details are shown on the attached map. |
| Target: | Primary Target: Coal Seam Gas in the Permian Betts Creek andAramac coal measures.Secondary Target:Shale liquids/gas in the Toolebuc Formation; tobe tested by chip sampling and logged. |
| Depth: | Planned: 1220 metresActual: 1374 |
Due to the onset of the summer wet weather season in Central West Queensland, the Joint Venture has decided that it is operationally prudent to suspend drilling operations after the completion of Hollowback-1 until the end of the wet season. Exoma plans to resume drilling in March 2012.
Exoma has a 50% beneficial interest in both ATP 996P and the Hollowback-1 well. CNOOC Galilee Gas Company Pty Ltd is earning its participating interest by a farmin whereby CNOOC provide the initial $50 million of joint venture expenditures on Exoma’s five Galilee Basin ATP’s.
FURTHER INFORMATION
Rob Crook Chief Executive Officer +61 7 3226 5600 Email: [email protected]
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