CORELLA RESOURCES LTD — Regulatory Filings 2011

Aug 7, 2011

8 August 2011

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Exoma Energy Limited (EXE)

Shale Gas Well Spuds – Euston -1

Exoma Energy Limited (ASX: EXE) is pleased to announce that the fourth well of its 2011 exploration campaign, Euston-1, has spudded. The target of this well will be Shale Gas in the Toolebuc Shale of the Eromanga Basin in Central Queensland.

Well Name:	Euston-1
Permit:	ATP 999P
Location:	Eromanga Basin, approximately 50km northwest of Longreach,Queensland. Details are shown on the attached map.
Target:	Primary Target: shale gas in the Toolebuc Formation. Thecarbonaceous Toolebuc Shale will be cored and the well logged. Theshale core will be subject to laboratory analysis to identify sourcematurity, hydrocarbon type and content, detailed mineralogy, rockproperties and permeability.
Planned Depth:	670 metres

Exoma has a 50% beneficial interest in both ATP 999P and the Euston-1 well. CNOOC Galilee Gas Company is earning its participating interest by a farmin that funds Exoma’s share of the cost of drilling this well.

FURTHER INFORMATION

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

Media Contact: David Tasker Professional Public Relations +61 8 9388 0944/0433 112 936 Email: David.Tasker@ppr.com.au

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Galilee Basin 2011 Atlas # 1 Rig Drilling Program

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----- Start of picture text ----- Nora-1Hollowback-1Jessamine-1A T PCulloden-19 9 6 PA T P 9 9 1 PWinton Alma-2Alma-1Prairie-1A T P 9 9 9 PDarr-1Euston-1 Wonganella-1Saltern-1Bessies-1LongreachA T P 1 0 0 8 PBarcaldineKatherine-1A T P 1 0 0 5 PTown0 50 100 Wellkilometres Exoma Permit----- End of picture text -----