Worrior Oilfield Production Increased More Than 2,500 bo/d

Stuart Petroleum says that the Worrior 5 and Worrior 6 development wells have added more than 2,500 barrels of oil per day to the Worrior Oilfield production.

The Managing Director of Stuart Petroleum, Mr. Tino Guglielmo said, "Production from these wells has increased total production from the Worrior Oilfield to around 3,200 barrels of oil per day at a time of record oil prices".

Worrior 6 is producing at 2,300 barrels of oil per day on free flow (without pumping assistance) from the McKinlay Formation oil pool and Worrior 5 is producing at 250 barrels of oil per day on pump, also from the McKinlay oil pool.

Worrior 5 and 6 were successfully drilled during September after a detailed field study completed earlier this year indicated the potential for increases in production rates and in developed reserves.

Production rates will be monitored before completing an assessment of potential reserve additions.

Participants in both wells, drilled within the Cooper/Eromanga Basin production license PPL 207, are:

Stuart Petroleum Limited (Operator) (ASX:STU) 70%

Cooper Energy Limited (ASX:COE) 30%