Release: Cooper Energy: Gurame-1X gas shows encountered
Monday, April 7 2008 - 01:14 AM WIB
(07 April 2008)--We are pleased to Inform shareholders that over the weekend the Gurame-1X well has encountered a number of gas shows - the most notable of which occurred in the Lower Seurula Formation below 1,403 metres. Pre-drill geological studies indicated that formations encountered were expected to be gas bearing thereby confirming the geological model. The significance of these gas shows will be fully evaluated with wireline logs at the total depth of the 12?? hole section at around 2,371 metres.
The next expected operation is coring to evaluate the primary objective Upper Keutapang sandstone formations.
As the Gurame-1X well is expected to drill through a number of gas reservoirs between now and total depth, further frequent gas shows are expected.
The general forward plan for the Gurame-1 X well is:
? Complete coring in the Keutapang sandstone reservoirs
? Drill to the total depth of the 12?? hole section (2,371 metres)
? Log the 12 ?? hole section
? Run 9 5/8? casing
? Drill to total depth in 8 ?? hole (3,010 metres)
? Log the 8 ?? hole section Run 7? casing
? Production test key gas reservoirs (subject to positive logging results)
? Suspend the well as a potential future production well (subject to positive production testing and logging results)
A further update will be provided to investors following the running of wireline logs in the 12Y4? hole section in the next 1-2 weeks. (end of release)