Exoma Energy Limited released the interim results for the Euston-1 shale gas well, the fourth well in the Company’s 2011 exploration campaign. The well has been drilled by Exoma as Joint Venture Operator of ATP 991P, ATP 996P, ATP 999P, ATP 1005P and ATP 1008P.
The well reached a total depth of 632 metres and has encountered a 32 metre intersection of Toolebuc Shale, the target of the well. Euston-1 is approximately 50km to the north east of Bessies-1 where 40 metres of Toolebuc Shale was intersected at a depth of 883 metres.
Core was recovered across the full Toolebuc section. As at Bessies-1, there is evidence of gas release from the shale core and samples are presently undergoing gas desorption. Further core samples will be sent for specialised laboratory analysis.
Exoma has a 50% beneficial interest in both ATP 999P and the Euston-1 well. CNOOC Galilee Gas Company Pty Ltd is earning its participating interest by a farmin whereby CNOOC provide the initial $50 million of joint venture expenditures on Exoma’s five Galilee Basin ATP’s.
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Source: Exoma Energy, August 18, 2011;