Cooper Energy Comes Up Dry at Gunyah-1 Exploration Well

Cooper Energy has advised that the Gunyah-1 exploration well has penetrated the primary objective Namur Sandstone and the secondary objective Birkhead Formation and Hutton Sandstone with no hydrocarbon shows. Full evaluation of all objective horizons will be conducted using wireline logs after the well has reached total depth.

The well is currently drilling through the Hutton Sandstone and over the next few days is expected to intersect further secondary objectives, the Poolowanna Formation and the Kalladeina Formation.

The Gunyah Prospect was identified on the 2007 Neritus 3D seismic survey, which enabled the discovery of the Parsons Oil Field.