Cooper spuds E. Java exploration well

Australian oil, gas firm Cooper Energy announced on Friday the spudding of Gigir East-1 exploration well in South Madura PSC, onshore Madura island, East Java,

The Company said the well will be drilled to total depth of 1,300 meters and would take 15 days to complete.

According to the Company, the drilling targets gas in the Bulu sandstone formation with primary target size of 5-32-71 BCF (P90, P50, P10) of undiscovered recoverable gas.

Cooper is the block?s operator with 30% interest with the balance are held by AED Oil (60%) and PT Eksindo South Madura (10%). (alex)