Exoma is currently finalising conditions to conclude the acquisition of a 100% interest in the Galilee Gas Project in Central Queensland.
The acquisition is subject to approval by Exoma shareholders at an Extraordinary General Meeting scheduled to be held on 27 July 2009. Shareholders wishing to register proxies for the meeting should fax them to + 61 8 9389 8700 on or before 10:00am 25 July 2009.
The Galilee Gas Project holds five contiguous Authorities to Prospect in the highly prospective Galilee and Eromanga Basins in Central Queensland, Australia.
This project has an estimated potential to host combined gas in place resources of 35 Trillion Cubic Feet (TCF) of Coal Seam Gas (CSG) and Shale Gas (SG)*.
Exoma believes the double objective of ‘conventional’ CSG and ‘unconventional’ SG makes the large contiguous Galilee Gas Project potentially one of the most significant gas exploration projects in Australia.