Oil Flows from Bunian-3ST2 Well in Sumatra's Sukananti SKO During Test

Cooper Energy Limited reported Monday that the testing of the Bunian-3ST2 development well in the Sukananti KSO, South Sumatra foreshadowed in the Update dated April 21 has begun successfully with oil flows from the primary target TRM3 sand.

Following an initial cleanup period, the TRM3 sand flowed for 2 hours at a stabilized flow rate equivalent to 1,742 barrels per day of oil through a 0.25 inch choke, with a flowing tubing head pressure of 500 psi. The flow consisted of oil and gas with no water. Measurements to quantify the gas rate are ongoing. The flow rate achieved was limited by the capacity of available surface facilities. Oil flows are being directed to a temporary production facility and produced oil is being trucked directly to market.

Further flow testing of the TRM3 sand is being conducted to gather additional data. On completion of the initial evaluation of the TRM3 sand, flow testing of the K1 sand will be conducted. Analysis of the increase in reserves will be completed after the completion of the production tests.

Cooper Energy Managing Director David Maxwell said “these encouraging initial results are consistent with post drill expectations and will assist with the identification of additional reserves in this reservoir”.

The drilling rig was released April 23 and has been moved off site while maintenance work is carried out prior to commencing the drilling of Tangai-5.

Joint Venture participants in the KSO Tangai-Sukananti Block are Cooper Energy Ltd (Operator 55 percent) and Mega Adhyaksa Pratama Sukananti Ltd (45 percent).

Background

Bunian-3 ST2 is an onshore well in the Sukananti KSO, South Sumatra, Indonesia. The Bunian structure is a four-way, fault bounded anticline defined by the 2011 Sukananti 3D seismic survey. Bunian-3 is located 2,395 feet (730 meters) southwest of Bunian-1 and the primary target is the Talang Akar Formation TRM3 Sand. Bunian-1 was drilled in 1998 and initially tested at 1,585 barrels of oil per day. Bunian-1 has produced 993,000 barrels of oil from the TRM3 sand and is currently producing at approximately 200 barrels of oil per day.

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