Release: Cooper Energy: Kurnia-1 preliminary log evaluation

(07 December 2007)--Cooper Energy provides the following update:

Kurnia-1 (South Madura PSC, Indonesia, COE 30%, Capped Free Carry)

? Initial wireline log data has been obtained over the formation section from 3,004 to 3,036 metres.
? The logs obtained to date have captured data that is then interpreted to provide an indication of the fluid type in the formation (gas or liquid) and the quality of the formation. The potential productivity of the interval is yet to be determined.
? A preliminary interpretation of the data from the logs obtained to date demonstrates that the formation appears to be a poor quality inter-bedded carbonate and shale. There is approximately 30 metres of formation with approximately 10 metres of clean carbonates that appear to be gas bearing.
? The section that has been logged is an inter-bedded carbonate and shale formation. Correlation with nearby wells indicates that this section may lie above the main Kujung II carbonate, which is typically a massive and clean limestone. The interpretation will become clearer as we drill ahead.

The forward plan for the well is to:
? Complete the logging program.
? Drill ahead and progress the well evaluation program. (end of release)