Perth, July 23, 2008 (ABN Newswire) - Exoma Energy Limited (ASX:EXE) CEO, David Rowbottam, Managing Director's comment: "Exoma is very pleased with the progress of the first horizontal well in its Anadarko Basin properties and shareholders should be encouraged that the Operator has identified nine zones of interest to test. The Crusader engineers, who have drilled 50-60 successful wells in the area, will now design and engineer the August frac programme. We are advised to expect stabilised flow results in late September, and we look forward to reporting these in due course."

Report Date: 22 July, 2008
Project: Anadarko Basin Horizontal Drilling Programme
Location: Ellis County, Oklahoma
Well: Brearley 1H-11
Spud Date: 8 June, 2008
Exoma Working Interest: 25.87% (free carried)
Operator: Crusader Energy Group LLC.
Objective: 1.5 BCF gas and 50,000 barrels of oil
Total Vertical Depth (TVD): 8,600 feet
Total Measured Depth (TMD): 13,041 feet (revised)
Current Measured Depth: 13,041 feet

Progress: The Operator has advised it has run and cemented pipe along the lateral well bore. The forward plan is to prepare a nine (9) stage frac and production testing programme commencing in the last week of August. The Operator has also advised it will build a gas pipeline connection following the production test.

Drilling updates will be reported every Wednesday in accordance with ASX Listing Rule 3.1