Cooper to Plug and Abandon Perlubie-2 Well

Cooper announced that the Perlubie-2 appraisal/development well has been drilled to a total depth of 1366 mRT and wireline logs have been run and interpreted.

Perlubie-2 has encountered the Namur sandstone reservoir low to prognosis and logging has confirmed an oil column in Namur and McKinlay Member sandstone reservoirs. Due to the small height of the oil column, the well is not expected to recover sufficient oil to justify a completion and tie-in to the production system and therefore the PEL 92 JV has decided to plug and abandon the well.

The rig will be moved to Germein-1 well location as the next exploration well.