Release: Cooper Energy: Kurnia-1 drilling update

(January 4, 2008)--Cooper Energy Limited provides the following update:

? Wireline logs have been obtained across the interval 3,081 to 3,350 meters. Interpretation of these logs indicates the persistence of potentially productive fractures through this Kujung carbonate section.

? The Joint Venture has decided to conduct a production test over the Kujung carbonate section based on the presence of fractures coupled with the hydrocarbon shows observed whilst drilling.

The current operation is preparing the well for production testing.

The production test is expected to commence within the next two weeks.

Further updates will be made as soon as more information is available. (end of release)