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CORELLA RESOURCES LTD — Regulatory Filings 2011
Jun 19, 2011
64703_rns_2011-06-19_0f7dfa6f-2fd9-4acb-a5ba-3ff4aee113de.pdf
Regulatory Filings
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20 June 2011
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ASX Announcement
Drilling Program Update
Exoma Energy Limited (ASX:EXE) has completed the drilling and testing of the Sultern-1 exploration core well in ATP1008 in the Galilee Basin, Central Queensland , the first of an initial 12 well exploration program.
The well was drilled to a total depth of 938 metres and recovered 135.28 metres of core, including 6 metres of coal. The coal core has been placed in canisters and is presently desorbing gas. Based on the core and log results related to adjacent seismic survey lines and offset wells, it appears that the well encountered a localized zone where part of the coal sequence has been eroded.
Drill stem testing was conducted across a 3 metre section of the coal and the results are presently being analysed.
The rig is now mobilizing to Wonganella-1, the second well in Exoma’s 12-well regional exploration program.
FURTHER INFORMATION
Rob Crook Chief Executive Officer +61 7 3226 5600 Email: [email protected]
Media Contact: David Tasker Professional Public Relations +61 8 9388 0944/0433 112 936 Email: [email protected]
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About Exoma:
Exoma is a Brisbane based, ASX listed energy company primarily focussed on its five petroleum exploration permits in Queensland’s Galilee Basin. The permits cover an area of approximately 26,840 square kilometres and Exoma considers the permits to be highly prospective for coal seam gas and shale gas in particular. On 31 March 2011 Exoma closed a Farmin Agreement with China National Offshore Oil Corporation’s subsidiary CNOOC Galilee Gas Company Pty Ltd, whereby CNOOC will acquire a 50% interest in all 5 of Exoma’s ATP’s by contributing the first $50 million to the exploration program.
An extensive evaluation program has been undertaken since Exoma acquired the tenements in October 2009, confirming potential gas in place resources of a magnitude necessary to support major long term development projects. Evaluation work on four of Exoma’s initial prospects by MHA Petroleum Consultants has led to the certification of over 2Tcf of CSG 3C contingent resource. Potential Gas In Place over all permits for CSG & SG exceeds 100TCF.
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