Cooper, Beach Make New Oil Field Discovery

Cooper Energy announced that Germein-1 in PEL92 has made a new oil field discovery.

Wireline logs have confirmed that Germein-1 discovered a 2.5 meters net oil column in the Namur Sandstone formation. The recoverable volumes will be estimated after the productive performance of the well has been observed.

Germein-1 has been suspended as a future PEL92 production well that will be tied into the PEL92 production system.

The rig will be moved to Butlers-4 well location. Butlers-4 is an appraisal/development well on the Butlers Oil Field. Further information on Butlers-4 well will be made at the appropriate time.

Joint Venture Participants are Cooper Energy (25%) and Beach Energy (75% and Operator).

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