The Gruden Group Ltd (ASX:GGL) formerly Exoma Energy is a petroleum exploration company, focused on exploration in Australia for conventional and unconventional oil and gas.
Exoma Energy (ASX: EXE) has spudded its Alma-1 core hole in the Galilee Basin, Queensland, that will investigate both coal seam gas and shale gas potential in the area.
It will test both the Permian Coal Measures and Toolebuc Shale for coal seam gas and shale oil/gas potential.
Alma-1 is located in ATP 966 about 100 kilometres north of Longreach and is the first of up to 22 wells Exoma and its partner CNOOC are drilling to appraise the coal seam gas (CSG), conventional oil and shale oil and gas resources in their aacreage, which covers 27,000 square kilometres.
The wells are designed to deliver a strategic understanding of the basic geology within the 5 permits with the objective of defining the most favourable areas in which to develop reserves.
These include up to 13 CSG core wells during 2012 to measure and map the distribution of gas within the Permian Betts Creek and Aramac Coal measures; 7 shale exploration wells to collect further shale geological and geochemical data on the Toolebuc shale, which covers about 20,000 square kilometres; and wells to test the Katherine West and Katherine East oil prospects.
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