Cooper gets net oil entitlement 4,228 barrels from bunian-1

By Peni Pedriawan

ASX-listed energy firm Cooper Energy announced on Tuesday that production from Bunian-1 at the Sukananti KSO, where it has 55 percent participating interest, during the first quarter totaled 10,186 barrels of oil.

That gives Cooper Energy a net oil entitlement of 4,228 barrels, it said in its latest quarterly update report. This was lower than the previous quarter?s net production entitlement of 6,002 barrels (147.1 bopd) due to heavy rains which temporarily interrupted crude oil export.

The workover of Tangai-1 in the Sukananti KSO is expected to proceed in the third quarter.

The report also said that the evaluation of drilling opportunities in Sukananti and the Sumbagsel PSC (Cooper Energy 100 percent) is continuing and is likely to lead to the commencement of a 1 to 3 well drilling program in the fourth quarter of 2013.

Seismic acquisition is expected to commence in the Sumabagsel PSC in mid-calendar 2013. Farm-out discussions in relation to the Sumbagsel PSC are ongoing.

Editing by Dadan Wijaksana