Exoma's Toolebuc Shale Tests Positive

Exoma Energy Limited has said that tests from Bessies-1 has confirmed the Toolebuc shale is generating oil and associated gas in its central Queensland permits.

The company drilled three core wells in the ATP 999 P permit during 2011 (Bessies-1, Euston-1 and Katherine-1) specifically targeting the Toolebuc shale.

A further independent analysis of the core from the three wells is being conducted by Corelab in the USA and will also be available in January 2012, the company said.

Based on the laboratory analysis of the Toolebuc shale core from Bessies-1, the OIP of the shale at that location appears to be comparable to that of the US Bakken shale in North Dakota, which has reported OIP values of between1.5 to 4.7MMbbls/km².