Release: Cooper Energy updates Kurnia-1 drilling activity

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

Kurnia-1 (South Madura PSC, Indonesia, COE 30%, Capped Free Carry)
? The wireline logging program from 3,004 to 3,036 metres has been complete.
? Based on the preliminary interpretation of the wireline log data, the reservoir section appears tight and potentially gas bearing. Due to the formation quality no wireline hydrocarbon samples have been secured. The preliminary interpretation would indicate that it is unlikely that a production test would be executed over the interval from 3,004 to 3,036 metres.
? The rig is now drilling ahead. There are continuing hydrocarbon shows of variable quality, which will be evaluated later with wireline logs. At 7:00am Perth time this morning the well was at approximately 3,070 metres.

The forward plan for the well is to:
? Drill ahead and progress the well evaluation program. Total depth for the well is planned to be 3,400 metres, subject to ongoing evaluations. (end of release)