Beach Energy Spuds Shelly-1 Well in PEL 92 in Cooper Basin



Cooper Energy Limited announced Tuesday that Shelly-1 well in permit PEL 92 in the Cooper Basin, South Australia was spud Monday July 7 at 19:30 hours. At 06:00 hours this morning the rig was drilling 12.25 inch hole at 534.7 feet (163 meters).

Shelly-1, a vertical well located 1.05 miles (1.7 kilometers) south-west of the Callawonga oil field, is prognosed to drill to a total depth of approximately 6,358.2 feet (1,938 meters) with its primary target the Namur Sandstone. The well is expected to take approximately one week to complete.

The drilling of Shelly-1 will mark the end of the current PEL 92 exploration campaign.

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



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