22 October 2009 Exoma completes acquisition of 26,840 km² Coal Seam Gas permits in Queensland Galilee Basin HIGHLIGHTS * Five ATPs comprising the Galilee Basin Gas Project transferred. * Exoma to become largest permit holder in Galilee Basin. * Potential for 35 TCF* gas in place. * Exploration program underway on ATPs. * Expanded drilling campaign to be undertaken. Exoma Energy Limited (ASX:EXE) is pleased to announce it has completed the final step of its acquisition of the Galilee Basin Gas Project with the transfer of five Authorities to Prospect (ATPs) ‐ being No.

991, 996, 999, 1005 and 1008 ‐ by the Queensland Minister for Natural Resources, Mines & Energy to Longreach Number 2 Pty Ltd (Longreach). Longreachs five ATPs, comprising 26,840 km² of contiguous ground, are the largest permit holding in the Galilee Basin and will be developed for Coal Seam Gas (CSG) and Shale Gas. Exoma announced its plan to purchase the Galilee Gas Project from Longreach in May 2009 and Shareholders approved the acquisition at a General Meeting on 27 July 2009.

Upon completion of the transaction, Longreach will become a wholly‐owned subsidiary of Exoma.

The transaction is planned to be closed on 26 October 2009. The $2 million placement, previously announced as part of the transaction, was completed on 22 October 2009 and, with the ATPs transfer, allows Exoma to proceed to issue the securities to the Vendors as approved by Shareholders. Managing Director David Rowbottam said "The acquisition by Exoma of the Galilee Basin acreage has presented the Company with the opportunity to develop significant gas resources through planned exploration programs. There is over 4,000 line km of existing Seismic and over 100 exploration wells on the ATPs providing the Company with an excellent data set to establish a drilling campaign. "The Company has engaged petroleum consultants MBA Consulting in Brisbane to assist with the extensive regional mapping and geological interpretive work presently being undertaken.

Work to date has expanded the initial drilling program from 3 wells to 15 wells with additional targets being identified over this extensive area," Mr.

Rowbottam said.
Download the Quartlerly Activities Report by clicking here http://esp.gewru.com/download/files/12414/968417/20091022%20-%20ASX%20Announcement%20-%20%20Exoma%20completes%20acquisition%20of%2026.pdf
For more information contact: David Rowbottam Managing Director Exoma Energy Limited Tel: 08 9389 9400 Melanie Gray Professional Public Relations Tel: 08 9388 0944
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