CSG, Markets, Technology

Exoma closes in on Galilee drilling campaign

Exoma has conducted a detailed technical review of the 26,840 sq km of coal seam gas (CSG) and shale gas exploration acreage spread over five permits in Queensland’s Galilee Basin.

The company has engaged Brisbane technical consulting group MBA Consulting to assist with the verification of geological datasets, preparation of regional maps and geological interpretations as input to implementation of work programs and to assist with selection of initial drilling targets, identification of suitable drilling rigs and related well services.

The Environmental Authorities for ATPs 991, 996, 999, 1005 and 1008 have been received. In addition, the draft permit conditions issued by the Queensland Department of Mining & Energy have been accepted and the rentals for the first year for each ATP have been paid to the Department.

All requirements for the grant of the ATPs have been satisfied and Exoma understands the granting of the ATPs is imminent.

Subject to the availability of suitable rigs and related service companies that fit the timing imperatives of the Company, commencement of the initial drilling campaign is anticipated for the fourth quarter 2009.

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