The company is also reviewing its exploration results in the Galilee Basin along with its 50% joint venture partners CNOOC Gas & Power.

Studies from the basin have resulted in new plays and leads for conventional gas, coal seam gas (CSG) and conventional oil exploration.

As a result of the exploration analysis, the company has identified two potential gas plays in the coal measures that have not yet been tested. One is Conventionally Trapped Gas and the second one is CSG.

The coal packages at Hollowback 1 are interbedded with impermeable shale that may have prevented gas migration out of the coal. These packages have the potential to act as localized CSG plays and may provide an exploration play elsewhere in the basin.

Oil leads from the studies have shown that the Corona 1 discovery, which recovered oil during a drill stem test indicated an oil play within ATP 999P. It was further confirmed by Exoma’s Katherine 1 and Katherine West 1 uncommercial oil discoveries.

Exoma is currently completing the detailed review of a number of conventional oil leads within ATP 999P and ATP 1005P.