Drilling Commences at Fishery-1 Exploration Well in PEL 92 in SA

Cooper Energy Limited (ASX: COE) disclosed Monday that Fishery-1, the second well of the current three well exploration campaign in PEL 92 on the western flank of Cooper Basin in South Australia, was spud Saturday June 21 at 08:30 hours. The well is at a depth of 2,285 feet (696.5 meters), with 9.625 inch casing currently being run into the hole.

Fishery-1, a vertical well located 2 miles (3.3 kilometers) east of the Windmill oil field, is prognosed to drill to a total depth of approximately 6,423 feet (1,958 meters) with its primary target the Namur Sandstone. The well is expected to take approximately one week to complete.

After drilling and evaluation at Fishery-1, Shelly-1 will be drilled 1.5 miles (1.7 kilometers) south-west of the Callawonga oil field.

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

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