Cooper to quit Indonesia

Australia oil, gas firm Cooper Energy reiterates on Friday plan to exit from Indonesia and Poland as part of strategy to focus in Australia and Tunisia.

Managing Director David Maxwell said in a presentation filed with the ASX that the company is now working through the best exit options and expected decision can be made by June 2012.

Cooper has two assets in Indonesia, both are located onshore southern part of Sumatra. The first is Sukananti block, a small oil field operated under joint operation agreement (KSO) with state oil, gas company Pertamina. Cooper has 55 percent interest in the KSO. The second is 100 percent interest in Sumbagsel PSC exploration block, which was awarded on March 2011. (alex)