Cooper
Energy Limited (ASX: COE)
Gurame-1X Gas Shows Encountered
Further
to ASX release COE260308a (Well Spud), we are pleased to inform shareholders that
over the weekend the Gurame-1X well has encountered a number of gas shows - the
most notable of which occurred in the Lower Seurula Formation below 1,403 metres.
Pre-drill geological studies indicated that formations encountered were
expected to be gas bearing thereby confirming the geological model. The
significance of these gas shows will be fully evaluated with wireline logs at
the total depth of the 12�“ hole section at
around 2,371 metres.
The
next expected operation is coring to evaluate the primary objective Upper Keutapang sandstone formations.
As
the Gurame-1X well is expected to drill through a number of gas reservoirs
between now and total depth, further frequent gas shows are expected.
The
general forward plan for the Gurame-1X well is:
• Complete coring in the Keutapang sandstone reservoirs
• Drill to the total depth of the 12�“ hole section (2,371 metres)
• Log the 12 �” hole section
• Run 9 5/8” casing
• Drill to total depth in 8 �” hole (3,010 metres)
• Log the 8 �” hole section
• Run 7” casing
• Production test key gas reservoirs (subject to positive logging results)
• Suspend the well as a potential future production well (subject to
positive production testing and logging results)
A
further update will be provided to investors following the running of wireline
logs in the 12�“ hole section in the next 1-2 weeks.
Regards,
Cooper
Energy Limited
Michael
Scott
Managing
Director
READ CORPORATE
Public Relations
Corporate Communications
T: (+61-8) 9388-1474
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