Exoma’s strong financial position, with "A$3.227 million cash" held at 30 June 2009 while remaining free of long‐term debt, provides the Company with a strong foundation as we begin activity to unlock the value we have established in our very significant land holdings in Australia. In the next 12 months, our focus will be on exploration activities to validate the petroleum prospectivity of the Company assets. We expect to aggressively pursue exploration programs for the Galilee Gas Project ‐ spending approximately A$47 million on drilling over the next four years ‐ to prove up economic gas resources within the ATPs of sufficient size to warrant early development. As announced on 15 May 2009, the initial development activities for the Galilee Gas Project will be funded from cash reserves and a "A$2 million" Placement......
EXE Price at posting:
26.5¢ Sentiment: LT Buy Disclosure: Held