Release: Cooper Energy: Kurnia-1 - End of well and well summary

(11 February 2008)--Cooper Energy advises Shareholders of the following:

? Due to the lack of formation integrity and the inability to run an adequate alternative bottom-hole completion, the Joint Venture has been unable to perform a full production test of the Kujung Reservoir and has made a decision to plug and abandon the Kurnia-1 well without any further testing activities.

? Kurnia is possibly a gas discovery, which was demonstrated by over 350 metres of gas shows during drilling and the production of flammable gas to surface during production testing.

? The Kurnia structure has an estimated area closure of 100 km2 and a vertical relief of 500 metres. As per previous announcements, the pre-drill estimates of recoverable gas ranges from 680 (P90) to 3,800 (P10) billion cubic feet.

? It is expected that the Joint Venture will now undertake the following activities:
- Technical Studies: Integrate all the well data into the existing dataset and redefine the estimated potential recoverable gas volumes (2008).
- Seismic: Shoot further seismic to better define the structure (2008-2009).
- Kumia-2: If there is further encouragement following the seismic; drill an appraisal well with the objective to test production from the Kujung carbonate formation (2009-2010). (end of release)