Cooper Energy Unveils Recoverable Oil Volumes for Butlers Discovery

Cooper Energy announced that it is planned to complete the Butlers-1 well as an oil producer within a few weeks. It is expected that this well will contribute to the PEL92 production volumes from later in 2009 once a flow-line has been run from the Butlers-1 well to the Parsons Oil Facilities.

Cooper Energy's estimate of recoverable oil volumes for the Butlers Oil Field is as follows:

  Low Estimate
(barrels of oil)
Medium Estimate
(barrels of oil)
High Estimate
(barrels of oil)
Cooper Energy Classification P90 Undeveloped Recoverable Oil P50 Undeveloped Recoverable Oil P10 Undeveloped Recoverable Oil
SPE PRMS Classification Proved Reserves
(Undeveloped Justified for Development)
Proved plus Probable Reserves
(Undeveloped Justified for Development)
Proved Plus Probable plus Possible Reserves
(Undeveloped Justified for Development)
Butlers recoverable oil estimate 1,090,000 1,540,000 2,150,000

The Butlers Oil Field will increase Cooper Energy's oil ultimate recovery and assist in sustaining the Company's future oil production volumes.


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