Beach Finds Non-Commercial Oil at PEL 249's Elliston-2 Well in Cooper Basin

Cooper Energy Limited disclosed Wednesday that Elliston-2, located in PPL 249 on the western flank of the Cooper Basin, South Australia, has been plugged and abandoned after reaching a total depth of 5,446 feet (1,660 meters). The well encountered 3.2 feet (1 meter) of oil pay in the primary target Namur Sandstone, which was considered  non-commercial to complete as an oil producer.

Cooper Energy Exploration Manager Andrew Thomas said “Elliston-2 penetrated the top of the Namur Sandstone reservoir 6.5 feet (2 meters) deeper than the pre-drill depth prognosis. However, the oil-water-contact in Elliston-2 was encountered at the same depth as in Elliston-1 which has been on production since December 2012. This indicates that Elliston-1 is accessing oil from a different part of the field than previously thought.”

The Joint Venture is reprocessing the 3D seismic data over the Elliston field and surrounding areas to gain a clearer understanding of the sub-surface structure before evaluating future development opportunities.

Cooper Energy holds a 25 percent interest in PPL 249 with the balance held by the Operator, Beach Energy Limited.

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