Senex Spuds Akele-1 Prospect in South Australia Coooper Basin

Cooper Energy Limited reported Wednesday that Akela-1 well was spud in PEL 110 of the South Australia Cooper Basin at 5:00 a.m. today. Akela-1 is a vertical well with a prognosed total depth of 8,812 feet (2,686 meters) measured depth below rotary table and, inclusive of testing, is forecast to take approximately 17 days to complete.

At 6:00 a.m. today, the well was at 98.4 feet (30 meters) and drilling 12.25 inch surface hole.

The Akela prospect is a four-way dip closed anticline defined by the 2013 Dundinna 3D seismic survey. Akela-1 is targeting the Poolowanna, Tinchoo and Birkhead Formations and the Hutton Sandstone.

The well is located 1.8 miles (2.9 kilometers) north of Crumpa-1, which was drilled in 1993 based on 2D seismic data. The Akela prospect is located approximately 6.8 miles (11 kilometers) north of the nearest oil field, Keleary, which has produced more than 1.6 million barrels of oil from the Poolowanna Formation, with additional oil production from the Tinchoo, Birkhead and Hutton.

Joint Venture participants in PEL 110 are Cooper Energy Limited (20 percent), Orca Energy Ltd (20 percent), and Senex Energy Ltd (Operator, 60 percent).

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