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Exoma Energy Limited, Brisbane, (ASX: EXE) has reported that the fourth well of its 2011 exploration campaign, Euston-1, has spudded. The target of this well will be shale gas in the Toolebuc Shale of the Eromanga Basin in Central Queensland.
Exoma has a 50% beneficial interest in both ATP 999P and the Euston-1 well. CNOOC Galilee Gas Company is earning its participating interest by a farm-in that funds Exoma's share of the cost of drilling this well.