just days away from drillin 1st csg/shale hole

Exoma Energy just days away from drilling first coal seam, shale gas exploration hole in Queensland

Wednesday, May 02, 2012
by Bevis Yeo

Exoma Energy (ASX: EXE) expects to spud on 5 May its Alma-1 core hole in the Galilee Basin, Queensland, that will investigate both coal seam gas and shale gas potential in the area.

The well was originally scheduled to spud on 25 April but heavy rain had led operations at the well site and access roads to be suspended until the ground dries out.

Alma-1 is located in ATP 966 about 100 kilometres north of Longreach and targets both the Permian coal measures and the overlying Toolebuc shale.

It is 1 of up to 22 wells Exoma and its partner CNOOC are drilling to appraise the coal seam gas (CSG), conventional oil and shale oil and gas resources in their aacreage, which covers 27,000 square kilometres.

The wells are designed to deliver a strategic understanding of the basic geology within the 5 permits with the objective of defining the most favourable areas in which to develop reserves.

These include up to 13 CSG core wells during 2012 to measure and map the distribution of gas within the Permian Betts Creek and Aramac Coal measures; 7 shale exploration wells to collect further shale geological and geochemical data on the Toolebuc shale, which covers about 20,000 square kilometres; and wells to test the Katherine West and Katherine East oil prospects.

http://www.proactiveinvestors.com.au/companies/news/28393/exoma-energy-just-days-away-from-drilling-first-coal-seam-shale-gas-exploration-hole-in-queensland-28393.html