Cooper Energy spuds Gurame appraisal well

ASX-listed oil and gas firm Cooper Energy Limited said on Wednesday it had launched a drilling program at its Gurame-IX appraisal well in Seruway PSC, offshore North Sumatra.

In a statement filed with the Australian Stock Exchange on Wednesday, the firm said the well was spudded on March 25, 2008 using ENSCO-1 barge.

?The indication of gas shows in the shallowest formation which is expected to be encountered around early to mid-April,? Cooper said.

The well will be drilled to a total depth of 2,900 metres, which is expected to take one month, Cooper said in February 2008.

The well is targeting the shallow reservoirs in the central area of the field. Preliminary recoverable hydrocarbon estimates indicate that the shallow central area could have 500 billion cubic feet of mean recoverable gas and approximately 10 million barrels of mean recoverable condensate.

Gurame-1X is the sixth well to be drilled into the Gurame gas discovery. The field was discovered and delineated between 1967-1972 and is located 50 km from Arun LNG plant.

Cooper Energy has a 22.5 percent interest, Salamander Energy 22.5 percent and the remaining interest is held by Transworld Seruway Exploration which is the operator of the block. (denny)