Cooper Drills Duster in Indonesia

Cooper announced that the Gigir East-1 well has been drilled to TD and the initial logging runs completed. It would appear that the bright seismic amplitude identified over the prospect was related to the lithology of the reservoir formation as no commercial hydrocarbons were encountered. The well will be plugged and abandoned.

This is the final drilling update for Gigir East-1.

Mr. Michael Scott, Managing Director, commented, "Gigir East was disappointing because we had high hopes that the seismic amplitude represented gas charged sandstones. Unfortunately this has not proved to be the case. On the positive side the well was drilled quickly, at low cost with no incidents, which further supports our reputation in Indonesia as a competent Operator. We will incorporate the
results of this well into our understanding of the prospectivity of the South Madura License and review our future exploration activity which is likely to focus on deeper plays. At the same time we will turn our operations capability towards the Sukananti Block where we look forward to re-establishing production in the near future."

The Joint Venture comprises:

  • Cooper Energy (30% and Operator),
  • AED (60%),
  • PT Eksindo South Madura (10%)