Release: Cooper Energy: Kurnia-1 Ngrayong oil shows

We are pleased to announce that we have recorded elevated gas readings and oil shows over two sandstone intervals in the Ngrayong Formation. Details of the shows are as follows:

Interval	Oil Show	Gas Recording
1,260-1,265 metres	Oil fluorescence and cut	727 units comprising C1-C5, above background of 100 units
1,295-1,301 metres	Oil fluorescence and cut	616 units, comprising C1-C5, above background of 100 units

 

The significance of these hydrocarbon shows will be further evaluated with wireline logs after drilling to the total depth of the 17” hole section (at approximately 2,500 metres).

 

The nearby Camplong-1 well also encountered similar shows with elevated gas readings and oil fluorescence in sands at a similar level. The correlation of the sands between the wells will be further evaluated using the wireline logs.

 

The current operation is drilling ahead in an 8 ½” pilot hole at 1,388 metres at 8 am WST.

 

The next ASX release is expected to be after we have run the aforementioned logs and evaluated the significance of these hydrocarbon shows. (end of release)