Australia: Exoma Updates on Scotty Creek-1 Well

Exoma Energy Limited announces the Scotty Creek-1 exploration well in ATP 1005P has been completed.

The well was drilled to a total depth of 996.7 metres and chip sampled a 40 metre section of the Toolebuc Shale formation. The shale samples will be subject to geochemical analysis. The data from this well forms part of the Galilee Joint Venture’s assessment of the extent of maturity of the Toolebuc shale as an oil and gas resource.

The well was deepened to test for the presence of Hutton and Adori sandstones as a potential oil play. These sandstone formations were not present at this location.

The well has been cased and suspended as a potential water source for future drilling in ATP1005P. The EDA #1 drill rig has been released to move to the next well, Rocky Creek-1, a shale core well in ATP 999P.

Exoma has a 50% beneficial interest in both ATP 1005P and the Scotty Creek-1 well. CNOOC Galilee Gas Company Pty Ltd is earning its participating interest by a farmin whereby CNOOC provides the first $50 million of joint venture expenditures on Exoma’s five Galilee Basin ATP’s.

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LNG World News Staff, August 27, 2012