CORELLA RESOURCES LTD — Capital/Financing Update 2012

Aug 28, 2012

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29 August 2012

ASX Announcement

Exoma Spuds Rocky Creek-1 Exploration Well

Exoma Energy Limited (ASX: EXE) is pleased to announce that it has spudded Rocky Creek-1, the eighth well of the Galilee Joint Venture’s 2012 exploration program. Rocky Creek-1 is a test that will be drilled to log and core the shale oil/gas in the Toolebuc.

This well will provide further data for Exoma’s evaluation of the oil and gas resource in the Toolebuc Shale. Analysis of core samples will provide additional information on the distribution of shale properties which will continue appraisal of the shale oil & gas resource identified by the Bessies/Euston/Katherine wells in 2011.

The well is specifically designed for shale exploration. It is planned that the well will be plugged and abandoned after it is drilled, cored and logged.

Well Name	Rocky Creek-1
Permit	ATP 999P
Location	Galilee Basin, approximately 110km west of Longreach, Queensland.Details are shown on the attached map.
Target	Primary Target: Shale oil/gas in the Cretaceous Toolebuc Shale. Theshale formation will be cored and logged. The core samples will besubject to laboratory testing for oil and gas content, geochemistry androckproperties.
Planned Depth	Top Toolebuc Shale: 946mPlanned total depth: 1,025m

Exoma has a 50% beneficial interest in both ATP 999P and the Rocky Creek-1 well. CNOOC Galilee Gas Company Pty Ltd is earning its participating interest by a farmin whereby CNOOC provides the first $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

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