Exoma Energy Limited announced a planned 2012 exploration drilling campaign of up to 22 wells which is scheduled to begin next month in Central Queensland.
The Galilee Joint Venture (Exoma 50%, CNOOC Gas & Power 50%) has agreed to an extensive exploration program across its five permits covering over 27,000 km2 within the Galilee Basin in 2012.
To achieve this, Exoma has contracted Ausdrill (ASX Code: ASL) to provide a rig and drilling services to carry out part of the 2012 drilling program.
The rig is presently being commissioned at Ausdrill’s Toowoomba yard. Negotiations for a second rig for the 2012 program are well advanced with mobilisation into the field of the first rig planned for April, subject to weather and land access considerations.
Exoma and CNOOC’s 7 well exploration program in 2011 confirmed the existence of three separate hydrocarbon systems: Coal Seam Gas, Conventional Oil, Shale Oil and Gas within the Joint Venture permits.
The 2012 exploration program will systematically appraise each of these potential resources in more detail. Exoma’s programs are therefore designed to deliver a strategic understanding of the basin geology with the objective of defining the most favourable areas in which to develop reserves.
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LNG World News Staff, March 29, 2012