cnooc deal puts focus on china's local targets

CNOOC and Exoma in the financial news-should generate some interest:
1. Australian 25/7 page 24 - CNOOC deal puts focus on China's local targets.
2. Aust Financial Review 25/7 page 20 - Chinese Tilt at Nexen part of Foreign Push.

Some selected quotes:
"The inking of a $US15.1 billion ($14.7bn) Canadian deal that could beat Chinalco's purchase of a stake in RIO as China's biggest acquisition abroad has shone a light on
the Asian giant's local energy intentions.
CNOOC this week agreed to the friendly purchase of Alberta based Nexen.
Further illustrating its taste for non-conventional energy plays, in 2010 CNOOC agreed to earn a half share in Galilee Basin permits of junior Exoma Energy by spending $50m on exploration across three years."

"CNOOC's $US15.1 billion friendly tilt at Canada's Nexen has highlighted the appetite among Chinese oil giants for unconventional oil and gas in North America - and they
are likely to be just as keen to buy into Australia's booming liquefied natural gas sector.
CNOOC is working with junior Exoma Energy in unconventional gas exploration in the Galilee Basin in Queensland."

All very postive for Exoma, especially with drilling of the oil target at Katherine now undereway.