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Cooper Energy Reports Success in Drilling Butlers-7 Well in PEL 92

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Australia's Cooper Energy Limited reported Wednesday that Butlers-7, in PEL 92 on the western flank of the Cooper Basin, South Australia has penetrated 16 feet (5 meters) of net oil pay in the Namur Sandstone.

The well, which has been drilled to a total depth of 4,741 feet feet (1,445 meters), has been cased and suspended for completion as an oil producer and will be linked into the existing Butlers production facilities.

Cooper Energy Executive Director - Exploration and Production, Hector Gordon said “Butlers-7 is an excellent result and continues our successful drilling program in PEL 92. The reservoir, which had a thicker oil column than expected, was also intersected high to prognosis and will accelerate oil production from the Butlers Field.”

With Butlers-7 cased and suspended, the rig will move to the Butlers-8 location, where it will continue the four well campaign. Butlers-7 is the second well in the four well campaign with the first, Windmill-2, also having been cased and suspended for completion as an oil producer.

Cooper Energy holds a 25 percent interest in PEL 92 with the balance held by the Operator, Beach Energy Limited.

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