The key to Exoma may appears to be to sit and wait for the results of its first phase CSG drilling program, which comprises three exploration core wells to test coal thickness and gas content in the highly prospective ATP 1008, in close proximity to the highly promising AGL/Eastern Corporation Rodney Creek and Glenaras pilot projects, and is expected to commence in May 2010, following completion of rig selection and site preparation and subject to weather conditions.
But sitting and waiting may see many missing the boat. The assessed potential of Exoma?s tenements is extremely high, and there?s little doubt that if the drilling produces results commensurate with assessed potential, the current SP of $0.27 will quickly be a distant memory. While the first phase entails only three core wells, Exoma has identified a total of 5 initial drilling locations, with a further firm 10 drilling locations in ATP?s 991, 996, 999 and 1005 also selected.
2010 promises to be a fascinating journey for EXE shareholders. And if a farm-in partner is soon found, there may not be much sitting and waiting at all.
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