Release: Cooper Energy: Gurame-1X plugged and abandoned after encountering no commercial hydrocarbon

Gurame-1X (Seruway PSC, Indonesia, Cooper Energy 22.5%)

(21 April 2008)--The rig has subsequently drilled through the Baong sandstones to a total depth of 2,915 metres. Wireline logs have been run which indicate hydrocarbons in low permeability Baong B and C sands. The RDT formation evaluation tool was unable to recover the formation fluid or measure formation pressures, another indication that the formation was tight. A magnetic resonance tool was also run in order to further evaluate hydrocarbon saturations and permeability confirming the tight nature of the reservoirs.

The forward plan is to complete the check shot survey then plug and abandon the Gurame-1X well. (end of release)