Release: Cooper Energy: Kurnia-1 update

(4 December 2007)--Further to release (Kurnia-1 Oil Shows), Cooper Energy provides the following update for Shareholders:

Kurnia-1 (South Madura PSC, Indonesia, COE 30%, Capped Free Carry)
? The rig has drilled the 8 ?? hole from 3,029 metres to 3,036 metres.
? Oil and gas shows have persisted in the mud and cuttings whilst drilling.
? Elevated gas readings have necessitated increasing the mud-weight in the weilbore from 12.5 ppg to 15.4 ppg and the operation to stabilise the mud weight is currently ongoing.

The forward plan for the well is to:
? Stabilise the mud weight and drill ahead.
? Drill to 3,050 metres, which would allow sufficient rat-hole to log the reservoir section.
? Run the neutron density log and wire-line formation sampling tool in order to determine the type of fluids that may exist in the reservoir section.
? Integrate all data and complete the well test design review and well integrity safety review, which are currently underway. (end of release)