Exoma Energy Limited has spud Sancho-1, the third well of the Galilee Joint Venture's 2012 exploration program. Sancho-1 will be drilled to log and chip sample the shale oil/gas in the Toolebuc shale and then deepened as a low-cost test of an underlying conventional oil prospect.

This well will provide further data for Exoma's evaluation of the oil and gas resource in the Toolebuc Shale. Analysis of chip samples will provide additional information on the distribution of shale properties which will continue appraisal of the shale oil and gas resource identified by the Bessies, Euston and Katherine wells in 2011.

Tags: Exoma Energy Limited