Cooper Energy Updates on AU Basin Drilling

Australia's Cooper Energy Limited provided the following update on PEL 92 and PPL 207 in the Cooper Basin, South Australia.

Hooper-1

Cooper Energy Limited reported that the Hooper-1 exploration well in PEL 92, Cooper Basin, South Australia, has been plugged and abandoned after reaching a total depth of 5,935 feet (1,809 meters) and failing to find significant hydrocarbon shows.

Hooper-1 was drilled to assess the structures in the western-most portion of PEL 92 in advance of the governmental requirements to relinquish 50 percent of the permit in November 2013.

Cooper Energy Executive Director, Hector Gordon said “the results of Hooper-1 indicate that significant quantities of oil have not reached the north-western portion of PEL 92.” He noted “this does not have implications for the favorable prospectivity in the established successful trends in the central portion of the permit. We anticipate addressing this with an exploration drilling program in early 2014.”

The next drilling in PEL 92 is a campaign of development and appraisal drilling scheduled for later this year.

Joint Venture participants in PEL 92 are Cooper Energy (25 percent) and Beach Energy Limited (Operator, 75 percent).

Worrior-8

Cooper Energy Limited reports that Worrior-8, a development well in PPL 207, Cooper Basin, South Australia, has been drilled to a total depth of 5,833 feet (1,778 meters) and encountered hydrocarbon shows in the Murta and McKinlay members, Birkhead Formation and Permian section.

Logging is underway and a further update will be provided upon completion.

Joint Venture participants in PPL 207 are Cooper Energy Limited (30 percent) and Stuart Petroleum Pty Ltd [Senex Energy Limited] (Operator, 70 percent).

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