Cooper Energy Awarded Bargou Permit Offshore Tunisia

Cooper Energy has been informed that the award of the 4,476 square kilometer Bargou Prospecting Permit in the Gulf of Hammamet, offshore Tunisia, has been published in the Tunisian Government Official Gazette No. 31 dated April 18, 2006.

The publication of the award of the permit commences the validity period on the same date. The two year validity period therefore commences on April 18, 2006 and expires on April 17, 2008. Upon expiry of the Prospecting Permit, Cooper Energy has the option to renew the permit as an Exploration Permit, which has a 5 year life.

The committed work program in the two year validity period is as follows:

  • Geology and geophysical studies
  • Reprocess 5,000 km of 2D seismic
  • Acquire, process and interpret 200 km of 2D seismic
  • Minimum expenditure of US$935,000

Cooper Energy is pleased to be awarded the permit and is looking forward to maturing a number of leads and prospects on the permit and working with ETAP, the Tunisian National Oil Company.

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