Cooper & Enterprise Spud Strickland Bay-1 Well

Enterprise Energy reports that the Strickland Bay-1 well in PEL-100 spudded this week. This is the second well of the current program 2-well program in this license. Enterprise is being "free-carried" by Cooper Energy Limited for the cost of this well under a farmout arrangement previously announced. Enterprise will retain a 10% interest in the PEL-100 license area.

Strickland Bay-1 is programmed to a total depth (TD) of 2770 meters and is being operated by Cooper Energy. The well will test the Jurassic Birkhead, Hutton and Poolowanna formations and the Triassic Tinchoo sandstone. It is estimated that the well will take between 18 and 23 days to drill and evaluate. Ensigns' Rig #30 is being used to drill this well.