Exoma Energy (ASX: EXE) is embarking on an aggressive 2012 drilling program in the Galilee Basin, Queensland, that will appraise the conventional and unconventional oil and gas resources it discovered last year.
The company and its partner CNOOC will drill up to 22 wells across its 27,000 square kilometre acreage to appraise the coal seam gas (CSG), conventional oil and shale oil and gas resources there.
Drilling is expected to start with next month with the first rig provider by drilling contractor Ausdrill while negotiations are well advanced for the provision of a second rig.
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.
Exoma said it will drill 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.
Read More
The company and its partner CNOOC will drill up to 22 wells across its 27,000 square kilometre acreage to appraise the coal seam gas (CSG), conventional oil and shale oil and gas resources there.
Drilling is expected to start with next month with the first rig provider by drilling contractor Ausdrill while negotiations are well advanced for the provision of a second rig.
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.
Exoma said it will drill 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.
Read More
Proactive Investors
No comments:
Post a Comment