Cooper says farm out plan receives strong interest

By Alexander Ginting

ASX-listed Cooper Energy Limited said it has received strong interest for the planned farm-out of its Merangin III exploration block onshore South Sumatra.

The company did not give detail.

Cooper currently has 100 percent interest in the block, where the company claimed had identified highly prospective and large prospects.

The committed work program for the Merangin III PSC consists of seismic acquisition and one well at a total cost of US$9.7 million over the initial 3 years

The company revealed in a document filed with the ASX on Wednesday that it also seek to farm out interest at Sumbagsel PSC exploration block, South Sumatra, where it has 100 percent interest.

Cooper plans to drill at least one exploration well in Sumbagsel PSC in 2014.

Editing by Reiner Simanjuntak