Cooper Energy Reports on Callawonga Production Operations

PEL 91, 92, 106, 107
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Cooper Energy has provided an update on production operations at the Callawonga oil field located in the Australia's Cooper Basin.

Following the perforation of the Callawonga-5 and Callawonga-6 development wells, the wells cleaned up at a combined rate of 6,600 barrels of oil per day with trace water (1,650 barrels of oil per day Cooper Energy share).

Following the tie-in of these wells to the Callawonga oil facilities, production from the PEL92 production area reached a record 6,100 barrels of oil per day (1,525 barrels of oil per day Cooper Energy share).

The Parsons-Callawonga-Tantanna flow line is transporting 5,900 barrels of oil per day and 200 barrels of oil per day is being transported directly to Moomba by truck.In addition and not included in the above daily production record, Perlubie-1 was perforated earlier this week and the well cleaned up at 2,600 barrels of oil per day (650 barrels of oil per day Cooper Energy share). The clean up flow was clean oil with no water.

Perlubie-1 will be tied into the production system in 2Q2009 and will assist in sustaining production volumes from the PEL92 production area.

This is an outstanding achievement for the PEL92 Joint Venture (Cooper Energy 25%; Beach Petroleum 75%) and the high margin production will assist in further boosting Cooper Energy's cash reserves.


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