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Exoma lands largest Galilee Basin CSG permit holding

Exoma announced its plan to purchase the Galilee Gas Project from Longreach in May 2009 and Longreach will become a wholly-owned subsidiary of Exoma once the transaction is completed.

The five ATPs – 991,996, 999, 1005 and 1008 – were transferred by the Queensland Minister for Natural Resources, Mines and Energy and cover an area of 26,840 sq km. The tenements are the largest permit holding in the Galilee Basin and will be developed for coal seam gas (CSG) and shale gas.

Exoma considers the double objective of conventional CSG and unconventional shale gas exploration for the tenements make the Galilee Basin project very significant.

Exoma Managing Director David Rowbottam said “The acquisition by Exoma of the Galilee Basin acreage has presented the company with the opportunity to develop significant gas resources through planned exploration programs.”?

MBA Consulting has been engaged to assist Exoma complete extensive regional mapping and geological interpretive work and the initial drilling program has been expanded from 3 to 15 wells with additional targets being identified over the newly acquired area.

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