Sheringa-1 (PEL 92) Spud Notice

Cooper Energy says that drilling has commenced on the Sheringa-1 exploration well Tuesday October 30, 2007.

The Sheringa prospect is located in PEL 92 in the Cooper Basin. The prospect was matured for drilling following interpretation of the regional 3D seismic survey that was acquired in PEL 92 earlier this year.

The prospect is located approximately 3 kilometers south-southeast of the Christies Oil Field and 2.5 kilomters south of the Silver Sands Oil Field.

The well's primary objectives are the Namur, Birkhead and the Hutton formations, all of which are productive reservoirs at Christies. The P50 undiscovered recoverable oil volumes for the Sheringa prospect are 0.5 million barrels in the Namur reservoir and 0.4 million barrels in the Hutton reservoir. The Poolowanna Formation is a secondary objective of the well.