CORELLA RESOURCES LTD — Regulatory Filings 2013

Sep 10, 2013

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11 September 2013

ASX Announcement

Operations and Permit Update

Exoma Energy Limited (ASX:EXE) confirms that as advised in various market updates and quarterly reports, Exoma has been closely examining a wide range of possible new venture opportunities that fit within Exoma’s financial capacity since late 2012. Some of these opportunities have been rejected on technical grounds, some were rejected due to the heavy permit work commitments and in some cases, Exoma was unsuccessful at the bid stage. In examining these opportunities the Board has taken into account current equity market conditions which are challenging for junior explorers and make it difficult to assess the feasibility of a capital raising to support further exploration efforts.

The Board believes that the opportunities available to Exoma via the asset market offer less value to shareholders than opportunities available via corporate transactions. The Board is currently focussed on securing and concluding a transaction that will maximise the value of Exoma’s corporate assets – its cash reserves, the Company’s ASX listing and the value of our Galilee Basin permit interests.

Galilee Permits

As indicated in the June quarterly report, the initial four year term for each of the five Authorities to Prospect held by the Galilee Joint Venture (ATP 991, 996, 999, 1005 and 1008) expired on 31 August 2013. Exoma, as Operator of the Galilee Joint Venture, submitted its work programme proposals in relation to the next four year term for these ATPs on 26 June 2013. The proposals are with the Department of Natural Resources and Mines ( DNRM ) for review and the DNRM has not provided Exoma with an indication as to when a decision regarding the proposal will be made, although Exoma expects that it will be some weeks or months before the Later Work Program is agreed with DNRM. The joint venture has therefore agreed that the 2014‐2017 work programmes will not be able to be finalised until the Later Work Program has been settled with DNRM.

Under the terms of the ATPs, 1/3[rd] of the area of each ATP was relinquished at the end of the first four year term (i.e. by 31 August 2013). Exoma lodged its proposals in respect of the mandatory 1/3[rd] relinquishments in August and these have been approved by the DNRM. Map 1 (attached below) shows the permit areas following the mandatory relinquishment. The relinquished areas do not include any of the leads and prospects under consideration by the joint venture (as shown on Map 2 attached).

Further Reduction in Operating Costs

As foreshadowed in the June 2013 Quarterly Report, the Board has conducted a further review of operations in order to conserve its cash resources. In light of the delay and uncertainty surrounding the 2014‐2017 work program and the Board’s decision to prioritise the review of

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potential corporate transactions, the Board has determined that there is no longer a need for any in‐house operational personnel and four positions have been made redundant including the position of General Manager Exploration. Future activities in respect of the joint venture will be managed by the Board and the CEO, with support from external consultants as required.

FURTHER INFORMATION

Rob Crook Chief Executive Officer +61 7 3226 5600

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Map 1

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Map 2

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