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EXOMA ENERGY LIMITED

ASX: EXE

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Description

Exoma Energy has a 100% interest in, and operates, five petroleum exploration permits situated over the Galilee and Eromanga Basins. These five permits are contiguous and together total around 27,000 square kilometers (approximately 6.6 million acres). The permits host up to 172 Tcf of potential gas in place, making this one of the largest early-stage gas plays in Australia.

The Galilee Basin is a large Permian/Triassic feature which contains the Betts Creek Beds and Aramac Coal Measures. The Betts Creek and Aramac coals were laid down contemporaneously with the world-class Permian coals of the Bowen Basin that lies further to the east. These coals are the targets for Exoma Energy’s coal seam gas exploration.

Overlying the Galilee Basin is the northern part of the Eromanga Basin which was laid down in Jurassic and Cretaceous times. Most of the sandstone members of the Great Artesian Basin lie within these rocks and above these aquifers lies the Toolebuc shale. The Toolebuc is a thick, continuous carbonaceous shale with a very high organic content; gas shows always occur when the shale is intersected by wells. Closer to its outcrop, the Toolebuc is under study by mining companies as a potential source of shale oil. Exoma Energy is exploring for the gas known to be present in the Toolebuc shale.

Exoma Energy has an experienced petroleum and CSG industry management team with strong exploration and production experience, including a thorough knowledge of local and international gas markets; working relationships with capable contractors, and the proven commercial experience to drive the exploration and development of the Company’s vast CSG and Shale Gas Acreage.

Exoma Energy is striving to achieve technical excellence in the conduct of its work programmes, and is committed to working safely at all times, establishing processes to ensure we conserve our environment, and supporting the communities in which we operate, as we work towards a sustainable industry future.

Exoma Energy’s long term plan is to endeavour to prove up a sufficiently large gas reserve to support a liquefied natural gas (“LNG”) project with a vision of exporting LNG to various markets within Asia. However, Exoma Energy is also developing a range of commercialisation plans so that various gas marketing scenarios could be considered, depending upon the level of proven gas reserves that may be achieved.

Mine For

oil, gas, coal seam gas

Location of operation(s)

Queensland

Australian Basins

Eromanga, Galilee

Address

Se 7C, Level 7, 12 Creek St
BRISBANE, QLD, AUSTRALIA

Phone

(61 7) 3226 5600

Email

Website


Last Updated

11/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.