CORELLA RESOURCES LTD — Capital/Financing Update 2012

Feb 8, 2012

9 February 2012

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ASX Announcement

Exoma to appointment Investment Bank/ Corporate Advisor

The Board of Exoma Energy Limited (ASX: EXE) advises that it has commenced a process to evaluate and appoint a suitably qualified global Investment Bank to act as a Corporate Advisor to the Company. It is expected that the appointment will be made within the current quarter.

The decision to appointment an Investment Bank as a Corporate Advisor was made by the Board in order to ensure the Company is well positioned to handle future growth and advise the Company on appropriate corporate strategies in light of the growing interest in Exoma's portfolio of prospective hydrocarbon resources, including conventional oil, shale oil and associated gas and coal seam gas.

Commenting on the appointment of an Investment Bank as a Corporate Advisor to the Company, Exoma Chairman, Brian Barker, said:

“ While Exoma is fully funded through 2012, we believe it is now important to appoint an Investment Bank with significant conventional petroleum, shale and CSG experience, to ensure we gain appropriate corporate advice as we move forward into the next phase in our Galilee Basin projects. We also believe it is important to now lift the exposure of Exoma and its projects to interested institutions and funds globally.”

Exoma has a 50% beneficial interest in five ATP’s in the Galilee Basin covering over 26,000 km². CNOOC Galilee Gas Company Pty Ltd, a local subsidiary of leading Chinese integrated energy company China National Offshore Oil Corporation (“CNOOC”), is earning its participating interest via 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: rcrook@exoma.net

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