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.
- Well Name: Euston-1
- Permit: ATP 999P
- Location: Eromanga Basin, approximately 50km northwest of Longreach, Queensland.
- Target: Primary Target: shale gas in the Toolebuc Formation. The carbonaceous Toolebuc Shale will be cored and the well logged. The shale core will be subject to laboratory analysis to identify source maturity, hydrocarbon type and content, detailed mineralogy, rock properties and permeability.
- Planned Depth: 670 meters
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.
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