Exoma Energy awarded Queensland oil and shale exploration permits

Exoma Energy and its partner CNOOC Gas & Power (CNOOC) have secured four new exploration blocks in the Eromanga and Galilee basins in Central Queensland, Australia.

The four permits, ATP 1127P, ATP 1130P, ATP 1137P and ATP 1150P, cover an area of 19,000km2 and are an extension of the Eromanga Basin conventional oil and shale oil/gas plays discovered in ATP 999P.

When formally awarded by the government, the new acreage will increase Exoma’s exploration coverage in the Galilee and Eromanga Basins to more than 46,000km², of which 39,000km² covers the potential Toolebuc Shale.

Exoma Energy chairman Brian Barker said, "The new areas will add extensive acreage to our portfolio and are of significant strategic importance as they provide Exoma with an unparalleled acreage position as we work to unlock the huge potential value in our shale oil and gas, conventional oil and CSG hydrocarbon systems."

Exoma noted that its predicted shale maturity fairway extends west and south into all four permits, offering access to a large area which is high-graded for prospective shale oil and gas appraisal/production.

The permits were earlier explored for conventional oil contained in the Eromanga Basin Birkhead/Hutton system, and 14 conventional oil leads were defined with an opportunity to possess a potential several hundred million barrels of oil in place.