Sep 28th 2012 - Edison Investment Research today published a report on Exoma Energy entitled "CNOOC Ups Its Interests". In summary, the report says:
Exoma has announced a substantial extension of its partnership with global major CNOOC. In addition to extending its existing farm-in agreement, CNOOC will take a 13% equity stake in Exoma, extendable to 19.9%. The deal provides Exoma with A$10.7m of direct new funding and $12.7m of further work programme funding. The extension of CNOOC's commitment signals continuing confidence in the plausibility and materiality of Exoma's Galilee and Eromanga Basin acreage.
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