In Queensland, Exoma Energy (ASX: EXE) and Chinese major CNOOC are involved in an aggressive 22 well drilling program to appraise the coal seam gas, conventional oil and shale oil and gas resources in their acreage, which covers 27,000 square kilometres.
These include seven shale exploration wells to collect further shale geological and geochemical data on the Toolebuc shale, which covers about 20,000 square kilometres.
Early exploration had indicated the Toolebuc shale could hold more than 3 million barrels of oil equivalent of in place oil and gas per square kilometre.
