Exoma Energy (ASX: EXE) and CNOOC are continuing their aggressive drilling campaign to unlock the hydrocarbon potential of their Galilee Basin acreage with the spud of their eight well.
Rocky Creek-1 is located in ATP 999P about 110 kilometres from Longreach, Queensland. It will log and core the shale oil and gas potential of the Toolebuc Shale.
Analysis of core samples will provide additional information on the distribution of shale properties which will continue appraisal of the shale oil & gas resource identified by the Bessie, Euston and Katherine wells in 2011.
The well will be drilled to a total depth of 1,025 metres with the top of the Toolebuc Shale expected to be intersected at a depth of about 946 metres.
Once it is drilled, cored and logged, Rocky Creek-1 will be plugged and abandoned.
Exoma and CNOOC are drilling 22 wells to appraise the coal seam gas, conventional oil and shale oil and gas resources in their acreage, which covers 27,000 square kilometres.
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.
These seek to measure and map the distribution of gas within the Permian Betts Creek and Aramac Coal measures; collect further shale geological and geochemical data on the Toolebuc shale and test conventional oil prospects.
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