Australia: Exoma Spuds Hollowback-1 Well in Galilee Basin

Exoma Energy Limited announced that the seventh well of its 2011 exploration campaign, Hollowback-1, has spudded.

The primary target of this well will be the coal seam gas (CSG) in the Permian coal measures of the Galilee Basin in Central Qld.

Exoma has a 50% beneficial interest in Hollowback-1 and the ATP 996P well. CNOOC, the largest offshore oil and gas producer in China, is contributing the first $50 million of exploration expenditure to earn a 50% stake in each of Exoma’s five permits in the region.

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Source: Exoma Energy, October 28, 2011