CNOOC Gets Chinese NDRC Approval to Buy 50% Interest in Exoma Gas Blocks

Exoma Energy Limited announced on 2nd March 2011 that the consent of the Chinese Government Authority was the only remaining condition of the $50 million farmin to a 50% interest in its Galilee Basin permits by CNOOC Gas & Power Group Ltd.

The consent requires the approval of three Chinese Government departments.

The National Development and Reform Commission (NDRC) has announced its approval to the farmout.

This approval was released on the NDRC website and reported in the press.

The remaining two required departmental approvals are those from the Ministry of Commerce of the Republic of China, (MOFCOM) and the State Administration of Foreign Exchange (SAFE).

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Source: Exoma Energy, March 24, 2011;