Cooper Energy updates Indonesian drilling activities

(The following is an excerpt taken from Australian firm Cooper Energy Limited.?s drilling operation update released on Friday.)

Kurnia-1 (South Madura PSC, Indonesia, COE 30%, Capped Free Carry)
Since the last release (COE3O1007a), Kurnia-1 has drilled to 2,763 metres.

The next planned release will be made once the 12 ?? hole has reached 3,000 metres, which is the depth for the running of the 9 5/8? casing. Following the running and cementing of the 9 5/8? casing, an 8 1/2? hole will be drilled to evaluate the Kujung II primary objective.

Drilling continues to be slow in Kurnia-1 due to the type of claystone that is being penetrated.

It is expected that drilling out from the 9 5/8? casing will be later in November.

Gurame-6X (Seruway PSC, Indonesia, COE 22.5%, Funding Capped 30%)
The Seruway Joint Venture held a technical committee meeting and operating committee meeting in Jakarta, Indonesia, on the 22nd and 23rd October. During these meetings the following items were discussed:
? Gurame well location
? Rig selection
? Rig timing (related to rig selection)

The Joint Venture is continuing discussions in regard to the above. Agreement on these items is expected to be reached in the very near future. After JV approvals Cooper Energy will make an announcement regarding location, timing and rig selection. (end of excerpt)