Cooper Pumps First International Oil in South Sumatra

Cooper Energy has commenced its first international production with a steady flow of oil from the Bunian-1 well in the Sukananti Production Area in South Sumatra.

The Bunian-1 well has been successfully worked over and is currently producing oil at a rate of 130 barrels of oil per day (100% Joint Venture).

The well is currently cleaning up on pump and over the past week the oil rate has increased from 35 barrels of oil per day to 130 barrels of oil per day while the water cut has declined from 95% to 80%, in line with expectation. Ongoing production will assist in determining the long-term oil and water trends for the well.

Bunian-1 is the first of a number of well work-overs planned in the Sukananti Production Area and similar outcomes to Bunian-1 are expected from the future wells.

Mr. Michael Scott, Managing Director noted, "The key objectives for the Sukananti Production Area were to recommence production and demonstrate our international production operations competence. We have achieved these objectives in a relatively short time-frame and we are now looking forward to further exploration, development and production in this block assisting to make our Indonesian operations self-sustaining."