Release: Cooper Energy: Kurnia-1 testing produces gas to surface

(18 January 2008)--Cooper Energy provides the following update:

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

? The production testing of the Kurnia-1 well commenced at 11:30 am yesterday.
? The well commenced unloading the completion fluids with good wellhead pressures in the range of 600-2800 psig through variable 16/64?-96/64? choke sizes.
? At 1:00 pm flammable gas was detected at surface and the production was diverted to a flare. The gas production rate could not be measured because the well was continuing to clean-up and so the production stream could not be diverted through the production separator.
? At approximately 3:30 pm the production tubing became blocked with debris causing the test to be stopped.
? The current operation is to unblock the production tubing.

At this stage Cooper Energy has insufficient data to comment on the commerciality or non-commerciality of these hydrocarbon indications. (end of release)