Cooper Energy to Spud Geordie-1 Well

Cooper Energy says that the Geordie-1 well will be spud in early February. The first reservoir objective is expected to be encountered seven days after spud.

Geordie-1 is the third well in Cooper Energy's busy 2006 drilling program. The Geordie prospect lies in the south of PEL88 and is a robust four way dip closed structure with two crests. There are three potential reservoir horizons – Birkhead/Hutton, Poolowanna and Tinchoo. The Geordie-1 well is drilling the southern crest of the prospect. Technical evaluations indicate that a discovery could yield mean recoverable oil of 7.5 million barrels.

The proposed total depth (TD) of the Geordie-1 well is 2600 meters and will be drilled using the Ensign Drilling Rig #30. This rig is currently on the Strickland Bay-1 location and will be mobilized to the Geordie-1 site as soon as practicable. It is expected that the well will take between 18 and 23 days to drill and evaluate depending on the results of the well.

Geordie-1 is located approximately 23 km north of the James Oil Field and 30 km west of the Cook Oil Field in Australia.