Release: Cooper Energy: Total depth of 26? hole section reached in Kurnia-1 well

(01 August 2007)--Further to ASX release on the spud of Kurnia-1 in the South Madura PSC in Indonesia, we are pleased to announce that we have drilled and reamed to the total depth of the 26” hole section and are now preparing to run the 20” casing.

 

General operations were slow during the first couple of weeks due to site infrastructure remediation and heavy seas delaying the delivery of essential site equipment. All issues have now been resolved.

 

To more accurately represent the actual time the rig was drilling, site infrastructure and equipment delivery downtime has been removed from the drilling time versus depth curve, which is attached to this release.

 

The next ASX release will be made following the running of the 20” casing and the recommencement of drilling, which is expected within 5 days. (end of release)