Exoma Energy Limited has been formally advised by the vendors of the Galilee Basin Gas Project that the five Authorities to Prospect (ATPs 991, 996, 999, 1005, and 1008) have been granted to the vendors by the Queensland Minister for Natural Resources, Mines & Energy.

On 27 July 2009, Exoma shareholders approved the acquisition of Longreach Number 2 Pty Ltd (Longreach) which, when completed, will result in the Company owning 100% of the ATPs covering 26,840 km² of highly prospective Coal Seam Gas and Shale Gas permits in Queensland’s Galilee Basin. Each ATP is granted for a period of twelve (12) years from 1 September 2009.

The original applicants have lodged documents with the QME and the Department of Environment & Resource Management to transfer the ATPs to Longreach. This process is expected to take up to 30 days, after which Exoma will close the acquisition transaction and issue the vendor consideration as approved by shareholders.

As recently advised, Exoma has engaged Brisbane technical consulting group MBA Consulting to assist with the verification of geological datasets, prepare regional maps and geological interpretations as input to implementing the Company’s work programs. This work will also assist with selection of initial drilling targets, identification of suitable drilling rigs and related well services.

Tags: Exoma Energy Limited