Beach, Cooper Spy Oil Shows at Butlers-1 in Australia

Cooper Energy announced that the Butlers-1 well has encountered oil shows in the Namur Sandstone primary target. Butlers-1 is located just south of the Perlubie-1 and Perlubie South-1 oil discoveries.

The expected plan is that the well will drill through the secondary targets to total depth. Wireline logs will then be run later this week when a further announcement will be made.

Pertinent details for the prospect are:

  • Primary target: Namur Sandstone
  • Primary target size: 1.37 million barrels P50 undiscovered recoverable oil1 (100% JV)
  • Secondary targets: Birkhead Formation, Hutton Sandstone, Poolowanna Formation.
  • Well depth: 1,770 metres
  • Well cost: A$1.64 million (100% JV)
  • Nearest oil fields: Perlubie South 2.6 km north.
  • Joint Venture: Beach Petroleum (75%), Cooper Energy (25%)
     
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