Exoma Energy Limited has reported that the Bessies-1 shale gas core well reached a total depth of 985 metres and intersected 40 metres of Toolebuc Shale, the well's primary target.

Shales immediately above the Toolebuc Shale were also cored and a sample of free liquid hydrocarbons was recovered from the core barrel in this shale, which was also observed to be smeared over the surface of the shales in the core barrel. Initial analysis of the hydrocarbon liquid indicates that it is naturally occurring. Gas shows were also recorded in both shales. Cores from both formations are currently being desorbed.

Chairman, Brian Barker, said: 'We are extremely pleased with the results of this well. In addition to intersecting 40 metres of Toolebuc Shale with gas shows, the well recovered a small quantity of free liquid hydrocarbons and also had gas shows from the overlying shale formation. We will conduct extensive laboratory analysis on the recovered samples to assess the significance of this find."

Tags: Exoma Energy Limited