Stuart Turns On Taps at Worrior Well

Worrior-7 well has been tied into the Worrior Oil Field facilities. The well commenced production at 2,300 barrels of oil per day (100% Joint Venture) from the McKinley Member of the Namur Sandstone. This flow rate was measured over a 5 hour period and then the well was shut-in.

Worrior-7 was drilled in July 2010 to test the eastern extent of the Worrior Oil Field in Cooper Basin. The well was successful and encountered a 6 meter net oil column in the McKinlay Member of the Namur Sandstone and a 4 meter net oil column in the Birkhead Formation. Worrior-7 has been completed as a tandem completion to access both these reservoirs. The Birkhead Formation will be tested after an initial production run from the McKinlay Member.

The Worrior Oil Field reached tank-tops and was shut-in over the weekend as rain caused road closures and prevented off-take trucking access to the field. Once roads are re-opened the Worrior-7 well is expected to assist in boosting Cooper Energy's production volumes and Proved Developed Reserves.

The participants in the Worrior-7 well are Stuart Petroleum (70% and Operator) and Cooper Energy (30%).