Exoma Energy to start Galilee Basin drilling program, aims to...

Exoma Energy to start Galilee Basin drilling program, aims to book reserves this year

Tuesday, February 28, 2012
by Bevis Yeo

Exoma Energy (ASX: EXE) is poised to start in April its 2012 exploration drilling program in the Galilee Basin, Queensland to build on the successes it enjoyed in 2011.

Results from the 2012 program will then be consolidated with those from last year to set the base for booking reserves.

The company’s joint venture with Chinese giant CNOOC had last year made a coal seam gas, shale oil and gas as well as a conventional oil find at Wonganella-1, ATP 999 and Katherine-1 respectively.

Exoma has now awarded Ausdrill (ASX:ASL) subsidiary Energy Drilling Australia a contract to provide a drill rig and drilling services for a year with an option to extend for another 12 months.

This leaves Exoma with the task of prioritising its drill target options.

CNOOC had in April last year signed off on a A$50 million farm-in to Exoma’s 5 Galilee Basin exploration permits covering 26,840 square kilometres.

http://www.proactiveinvestors.com.au/companies/news/25780/exoma-energy-to-start-galilee-basin-drilling-program-aims-to-book-reserves-this-year-25780.html

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Ausdrill wins $13m Exoma contract

The West Australian
February 28, 2012, 11:02 am

Ausdrill says it has won a $13 million coal seam drilling contract with Exoma Energy in Queensland.

The drilling contractor will provide a rig and drilling services for the Galilee Joint Venture 2012 exploration program.

The one-year contract, beginning April, has an option to extend another 12 months.

Ausdrill shares were up six cents, or 1.58 per cent, to $3.87 at 11am.

http://au.news.yahoo.com/thewest/business/a/-/wa/13037817/ausdrill-wins-13m-exoma-contract/