Cooper and Beach Energy starts development drilling at PEL 92, Cooper Basin

6/10/2014

Cooper and Beach Energy starts development drilling at PEL 92, Cooper Basin

ADELAIDE -- Cooper Energy reports the commencement of a 3 well exploration drilling campaign in PEL 92 on the western flank of the Cooper Basin with the spudding of Morgan-1 on 6 June, 2014. The well is currently drilling ahead at 1170 m in the Wallumbilla Formation.

The campaign, which aims to evaluate prospects along the oil migration pathways between existing oil fields, comprises:

Morgan-1, located 6.7km south-east of the Silver Sands oil field with a prognosed total depth of 2,069 m.

Fishery-1, located 3.3km east of the Windmill oil field with a prognosed total depth of 1,932 m.

Shelly-1, located 2.4km south-west of the Callawonga oil field with a prognosed total depth of 1,912 m.

All three wells have the Namur Sandstone reservoir as their primary target.

It is anticipated that Morgan-1 will be completed within 12 days of spudding and the three well drilling program completed by the first week of July 2014. Cooper Energy holds a 25% interest in PEL 92 with the balance held by the Operator, Beach Energy.

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