Exoma Energy Limited (ASX: EXE) has received a number of unsolicited approaches from major, energy industry corporations seeking to farm-in to the Company’s 26,000Km² of prospective Coal Seam Gas and Shale Gas tenements, in Queensland’s Galilee Basin.

Since acquiring the five strategic tenements in late October 2009 the Company has undertaken a substantial geological and geophysical program of reprocessing and reinterpreting seismic and well log data, regional settings and emerging data from current drilling programs in the Basin.

Detailed work undertaken by the Company has led to independent consultants MHA Petroleum Consultants certifying over 2Tcf of CSG 3C contingent resource in four initial prospects covering a small portion of Exoma’s tenements. The potential for significantly increasing these resources and converting to reserves in the 2010/2011 financial year are encouraging.

Further encouragement for the Company’s approach to the systematic evaluation of its substantial assets came early this year when the industry in general turned its attention to Shale Gas. Exoma has amongst the largest and most prospectively productive shale gas holdings in Australia. The Toolebuc Shales are shallow, very high in organic content and host gas of higher calorific value than CSG.

The Company is thus developing an exploration program designed to confirm the large scale potential of the Shale Gas resource that Exoma believes is located within its five tenements.

The prospects for developing world class CSG and Shale Gas assets in the Galilee has now been recognised by industry leaders and Exoma also recognises the substantial benefits of joint venturing the development of its properties with an international party of substance who can bring a variety of benefits to Exoma’s project.

Sufficient evaluation work has now been completed for Exoma to have developed meaningful technical programs and commercial terms for a potential farm-in. Discussions are continuing with interested parties and detailed negotiations will be progressed with a view to achieving significant value recognition for the Company’s assets.

For further Information contact:

Brian Barker
Chairman
+61 7 3226 5600