Exoma: Culloden-1 Well Completed, Australia

Exoma Energy Limited announced the Culloden-1 exploration core well in ATP 991P was drilled to a total depth of 1365 metres.

The well cored a 165 metre section of Betts Creek and Aramac coal measures. A total of 14 metres of coal core samples were put on desorption testing to measure gas content.

The well also encountered a 24 metre section of Toolebuc shale. The section was control drilled and chip samples were recovered for laboratory testing to measure oil content and thermal maturity.

The well has been plugged and abandoned as planned. The EDA #2 drill rig has been released to move to the next well, Nora-1.

Exoma has a 50% beneficial interest in both ATP 991P and the Culloden-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 20, 2012