Cooper Begins Butlers-4 Drilling

- Cooper Begins Butlers-4 Drilling

Monday, September 12, 2011
Cooper Energy Limited

Cooper Energy Limited announced that the Butlers-4 appraisal/development well in PEL92 spudded at 11:30 pm Sunday. The current operation is drilling ahead in the surface hole at 135 meters.

Butlers-4 is the third appraisal/development well on the Butlers Oil Field in the current PEL92 drilling program. Butlers-4 is targeting the Namur oil reservoir in the crestal part of the field 0.26km to the southeast of the Butlers-1 discovery well. The well will be drilled to a total depth of about 1,390 meters and is expected to take 9 days to drill and complete.

The Butlers oil field is currently producing approximately 1,400 barrels of oil per day from the Namur reservoir from the Butlers-1 well with Butlers-2 and Butlers-3 yet to be completed. It is expected that Butlers-4 will accelerate production as well as draining previously unaccessed reserves. The Butlers surface facilities will be upgraded to handle the increased production. Oil production from Butlers is exported via the pipeline to Tantanna and then exported to Moomba.

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Cooper, Beach Make New Oil Field Discovery

- Cooper, Beach Make New Oil Field Discovery

Tuesday, September 06, 2011
Cooper Energy Ltd.

Cooper Energy announced that Germein-1 in PEL92 has made a new oil field discovery.

Wireline logs have confirmed that Germein-1 discovered a 2.5 meters net oil column in the Namur Sandstone formation. The recoverable volumes will be estimated after the productive performance of the well has been observed.

Germein-1 has been suspended as a future PEL92 production well that will be tied into the PEL92 production system.

The rig will be moved to Butlers-4 well location. Butlers-4 is an appraisal/development well on the Butlers Oil Field. Further information on Butlers-4 well will be made at the appropriate time.

Joint Venture Participants are Cooper Energy (25%) and Beach Energy (75% and Operator).

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Cooper Begins Drilling Well South of Butlers Field

- Cooper Begins Drilling Well South of Butlers Field

Thursday, September 01, 2011
Cooper Energy Ltd.

Cooper announced that the Germein-1 exploration well in PEL 92 spudded at 0330 hours Wednesday August 31, 2011. The surface hole has been drilled to 600 meters and preparations are currently underway to run the 9⅝” surface casing.

Germein-1 is located 1.9 km south of the Butlers oil field. The well's primary objective is the Namur Sandstone, which is the oil reservoir in the nearby oil fields. The Germein prospect is estimated to contain 0.211 million barrels of Prospective Resources (P50). The well will be drilled to a total depth of about 1,410 meters and is expected to take about 10 days to drill and evaluate.

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Beach Secures Rigs for Shale Gas Plays in Cooper Basin

- Beach Secures Rigs for Shale Gas Plays in Cooper Basin

Monday, August 29, 2011
Beach Energy Ltd.

Beach has secured two Ensign rigs, Ensign#65 and Ensign#16, to drill both horizontal and vertical wells targeting its unconventional gas play in the Nappamerri Trough of the Cooper Basin. From recent drilling results, it is clear that the target zone in PEL 218 (Beach 90%) goes beyond shale and incorporates other lithologies that are also gas saturated. Beach believes, that in addition to the substantial shale gas potential, it is now dealing with an unconventional basin centered gas play.

The 2012 program for these rigs will focus on pilot horizontal production wells in both ATP 855P (Beach 40%) and PEL 218, as well as a series of vertical delineation wells in PEL 218. The program is designed to test the significant potential of the basin centered play in what is now considered a thick, continuous, multi lithology gas accumulation across the PEL 218 permit and potentially ATP 855P.
Details of the rigs and the two separate programs are as follows:

Ensign#65 (ADR1500):

• New build 1,500 horsepower rig out of Canada and the US which is expected to arrive around April 2012;
• Encompasses the latest proven technology being used for drilling horizontal wells in the Haynesville shale province in the US;
• Will be built to meet Australian standards and conditions and has the capability to drill 1,500 meter laterals from a depth of 4,000 meters; and
• Will drill the first horizontal well in ATP 855P to target shale and other lithology target zones. Upon completion of this well, the rig will commence the horizontal pilot well program in PEL218, with two pilot horizontal wells planned adjacent to Holdfast-1 and Encounter-1.

Ensign#16:

• 1,200 horsepower rig used to drill Holdfast-1 and Encounter-1, which is currently in the Officer Basin and expected to be available around January 2012;
• Will drill a series of vertical wells in PEL 218 to continue the evaluation of the continuous basin centred gas play in the permit; and
• Has the capability of drilling to 4,270 meters, with the vertical program set to increase the size of the resource in PEL 218 beyond the initial booking of 2 trillion cubic feet. This booking relates to a restricted area of 100km2 around each of Holdfast-1 and Encounter-1.

Beach Managing Director Reg Nelson said, “Beach has started to unlock a significant basin centred unconventional gas play in the Cooper Basin. These two rigs will take us a step closer to understanding the extent of the gas resource that resides within our permits. The horizontal pilot wells to be drilled by Ensign#65 will be production style wells designed to flow gas at commercial rates. Should these wells be successful we will seek to commence a pilot development program as soon as possible.”

• PEL 218 (Permian JV): Beach (90% and Operator), Adelaide Energy Ltd (10%)
• ATP 855P: Beach (40% and Operator), Icon Energy Ltd (40%) and Adelaide Energy Ltd (20%)

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Cooper Subsidiary Enters Farm-In Agreement for Romania Stake

- Cooper Subsidiary Enters Farm-In Agreement for Romania Stake

Friday, August 26, 2011
Cooper Energy Ltd.

Cooper announced that its wholly owned subsidiary, CE Bobocu Pty Ltd (CE Bobocu), has entered into a staged farm-in agreement with Zeta Petroleum (Romania) SRL (Zeta), a wholly owned subsidiary of Zeta Petroleum Limited (UK) (Zeta Petroleum), to earn up to a 50% interest in the Bobocu Gas Field on-shore Romania (Farm-in Agreement).

The Bobocu Gas Field is described in Cooper Energy's announcement of August 2, 2010.

The Farm-in Agreement replaces the Share Subscription Agreement and Joint Study and Bidding Agreement between Cooper Energy and Zeta Petroleum announced by Cooper Energy on August 2, 2010.

Subject to the satisfaction of certain conditions to the proposed acquisition by Key Petroleum Limited (Key) of all of the shares in Zeta Petroleum, the existing shareholding of Cooper Energy in Zeta Petroleum will be exchanged for Key shares.

The Farm-in Agreement is conditional on various matters, including:

• Implementation of the Key Proposal.
• Formal approval of the arrangement by the Cooper Energy and CE Bobocu boards of directors.

The drilling of the first well in the Bobocu Gas Field under the Farm-in Agreement is conditional on various matters, including:

• Key / Zeta Petroleum raising US $4 million to be made exclusively available for the purposes of the Bobocu Gas Field first well program.
• Zeta depositing US $2.24 million (of the US $4 million raised) in an escrow account.

Under the Farm-in Agreement, CE Bobocu will contribute farm-in costs up to a cap of US $2.24 million towards the first well in the Bobocu Gas Field.

All operations in relation to the first well will be operated by Zeta.

Following completion of the first well, CE Bobocu may elect to withdraw from the farm-in or to proceed.

If CE Bobocu elects to withdraw from the farm-in, CE Bobocu will be reimbursed from the escrow account all of CE Bobocu's expenditure on the first well.

If CE Bobocu elects to proceed, it will acquire (subject to governmental approvals and at no further cost) a 20% interest in the Bobocu Gas Field and have the right to earn up to a 50% interest in the Bobocu Gas Field.

CE Bobocu can surrender its right to earn in at any stage and will be entitled to retain the interest earned to that date. CE Bobocu will thereafter only be obliged to contribute its participating interest share of costs in respect of any further work on the Bobocu Gas Field.
Should it elect to proceed to each stage, CE Bobocu's financial obligations in relation to these subsequent programmes (in respect of which CE Bobocu will be the operator) are as follows:

Drilling of additional well	$1.8MM, plus 30% of costs thereafter	To earn an aggregate 30% interest
Design of plant	$2MM, plus 30% of costs thereafter	To earn an aggregate 40% interest
Construction of plant	$7.4MM, plus 30% of costs thereafter	To earn an aggregate 50% interest

Steve Twartz, Cooper Energy Exploration Manager, commented, "This revised arrangement provides CE Bobocu an option in the evaluation of the Bobocu Gas Field. Should the first well be successful, CE Bobocu will have preserved its risk managed options to earn further interests in the Bobocu Gas Field. Alternatively, should the first well not be successful, CE Bobocu can withdraw and it will have incurred no costs in respect of the first well."

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Beach to Construct New Flowline from Cooper Basin Western Flank

- Beach to Construct New Flowline from Cooper Basin Western Flank

Thursday, August 25, 2011
Beach Energy Ltd.

Beach has signed an agreement with Senex to tie-in the Growler Field (Beach 40%) to the Lycium oil field. It has also agreed with Senex to construct a trunkline from Lycium to the Moomba facility, however, the tie-in of this section remains subject to approval from the South Australian Cooper Basin (SACB) Joint Venture (~Santos Ltd 67%, Beach 20%, Origin Ltd 13%).

It is anticipated that the flowline from the Growler Field will be constructed in two main sections. The first section, directly from the Growler Field to the Lycium oil field, will consist of a six inch flowline with an initial capacity of approximately 8,000 barrels of oil per day. The equity interests for this section of flowline will be Beach 40% and Senex 60%.

Pending approval from the SACB Joint Venture, the main trunkline will service the whole of Beach's operated and non-operated Western Flank acreage and is planned to run between Lycium and the Moomba facility. The capacity of this eight inch trunkline is expected to be in the order of 15,000 barrels of oil per day. The equity interests for this section will be Beach 60% and Senex 40%.

Beach will undertake both the construction and operatorship of the flowlines, with the total cost of approximately $40 million to be effectively shared between Beach and Senex.

These flowlines will provide Beach with access to the Growler Field during times of flooding in much the same way it has for Beach's PEL 92 acreage during the recent flooding events. The second trunkline will also provide for increased production flows from Beach's operated PEL 91 and PEL 92 acreage as a result of recent development, appraisal and exploration success in the area.

The six well approved exploration program set down for PEL 104 and PEL 111 is expected to commence in October 2011, when flood waters are forecast to recede to levels where access can be restored. A number of Birkhead targets have been identified by the Operator which has had an exploration drilling success rate of 80% in the acreage to date.

The tenure of the Beach Operated Western Flank PEL's 91 and 92 have been granted a twelve month extension by PIRSA in acknowledgment that flooding has delayed exploration in the area. It is expected that the flowlines will be commissioned around June 2012.

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Cooper to Plug and Abandon Perlubie-2 Well

- Cooper to Plug and Abandon Perlubie-2 Well

Thursday, August 25, 2011
Cooper Energy Ltd.

Cooper announced that the Perlubie-2 appraisal/development well has been drilled to a total depth of 1366 mRT and wireline logs have been run and interpreted.

Perlubie-2 has encountered the Namur sandstone reservoir low to prognosis and logging has confirmed an oil column in Namur and McKinlay Member sandstone reservoirs. Due to the small height of the oil column, the well is not expected to recover sufficient oil to justify a completion and tie-in to the production system and therefore the PEL 92 JV has decided to plug and abandon the well.

The rig will be moved to Germein-1 well location as the next exploration well.

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Cooper Starts Drilling at Perlubie-2 Well

- Cooper Starts Drilling at Perlubie-2 Well

Friday, August 19, 2011
Cooper Energy Ltd.

Cooper announced that the Perlubie-2 appraisal/development well in PEL92 spudded at 10:00 am, Friday, August 19, 2011. The current operation is drilling the surface hole.

Perlubie-2 is targeting the Namur oil reservoir and is located 0.8 km to the southeast of the Perlubie-1 and 0.6 km to the northeast of Perlubie South-1 production wells. Perlubie-2 will be drilled to a total depth of 1,362 meters and is expected to take 8 days to drill and complete.

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Senex to Divest Stakes in AU Cooper Basin

- Senex to Divest Stakes in AU Cooper Basin

Thursday, August 18, 2011
Senex Energy Ltd.

Senex announced the farm-out of southern Cooper Basin conventional oil exploration licenses to Ambassador Exploration Pty Limited (Ambassador).

Senex is farming out a 60% interest in PEL 516 Mudlalee Block, a 60 %interest in PEL 516 Rowley Block and a 50% interest in PEL 113 Zulu Block to Ambassador. Notwithstanding the farm-outs, Senex retains 100% of the rights to "unconventional hydrocarbon production" within the Zulu Block and to any petroleum recovered from the Mudlalee and Rowley Blocks from beneath the Poolowanna horizon. Senex will retain Operatorship of each of these licenses.

The Farm-out Agreements have been executed and are subject to specific Conditions Precedent which are in the process of being completed. Details of the farm-out terms follow:

South Australian Cooper Basin License PEL 113 Zulu Block

Ambassador to pay 100% of the drilling cost of one well within the license area and 100% of the cost of acquiring, processing and interpreting 100 square kilometers of 3D seismic over the license area subject to agreed cost limits. On completion of the program, Senex will retain a 50% interest and Ambassador will have earned a 50% interest in Zulu Block production other than unconventional hydrocarbon production from the shale and coal deposits in the Permian sequence. Senex retains the rights to 100% of any unconventional hydrocarbon production from the Permian sequence.

South Australian Cooper Basin License PEL 516 Mudlalee Block

Ambassador to pay 100% of the drilling cost of one well within the license area subject to an agreed cost limit. On completion of the program, Senex will retain a 40% interest and Ambassador will have earned a 60% interest in the Mudlalee Block other than production from deposits that extend beneath the Poolowanna horizon. Senex retains the rights to 100% of any petroleum recovered from deposits beneath the Poolowanna horizon, being the unconventional hydrocarbon zones.

South Australian Cooper Basin License PEL 516 Rowley Block

Ambassador to pay 100% of the drilling cost of one well within the license area subject to an agreed cost limit. On completion of the program, Senex will retain a 40% interest and Ambassador will have earned a 60% interest in the Rowley Block other than production from deposits that extend beneath the Poolowanna horizon. Senex retains the rights to 100% of any petroleum recovered from beneath the Poolowanna horizon, being the unconventional hydrocarbon zones.

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Drillsearch, BG Group to Jointly Explore Cooper Basin

- Drillsearch, BG Group to Jointly Explore Cooper Basin

Wednesday, July 27, 2011
Drillsearch Energy Ltd.

Drillsearch has formed a strategic joint venture with QGC, a BG Group company, to explore and develop unconventional shale and tight gas resources in the Cooper Basin.

The joint venture involves QGC farming into, and acquiring, a 60% interest in DLS's strategically located ATP 940P covering over 2,000km2 (500,000 acres) of the Central Cooper Basin Nappamerri Trough Shale Gas Fairway.

The agreement places DLS in the unique position in the Cooper Basin of having access to QGC's gas commercialization capacity to support the full scale exploration, appraisal and development of shale and tight gas resources. The Basin is well situated to supply growing gas demand from LNG exports and domestic users in Australia. QGC is currently developing the QCLNG project in Gladstone.
BG Group is an active player in the exploration, development and production of shale and tight gas in North America with major positions in the Marcellus and Haynesville shale gas plays. The Cooper Basin shale gas exploration joint venture with Drillsearch is BG's first shale gas investment in Australia

Drillsearch Chairman Jim McKerlie said, "The JV with QGC is a great outcome for Drillsearch. It is a clear indication that Drillsearch is delivering on its three-prong strategy in the Cooper Basin – Oil exploration on the Western Flank, development of conventional Wet Gas along the Wet Gas Fairway and now delivering a focused exploration and appraisal plan to the Company's unconventional projects in the Cooper Basin."

"With the farmin by QGC and exercise of the options, Drillsearch's share of this unconventional exploration and appraisal program is fully funded. The company has now secured funding for all three prongs of its strategy. We are encouraged by the three oil exploration successes in the Western Flank of the Cooper Basin and progress of Western Cooper Wet Gas which is looking to start production later this year."

Drillsearch Managing Director Brad Lingo said, "This joint venture is significant for both the Cooper Basin and Drillsearch. This landmark transaction puts Cooper Basin shale gas resources on the world stage. This transaction is a major achievement for Drillsearch validating not only the quality of the position the Company holds in the Nappamerri Trough Shale Gas Fairway but also the Company's capability as an exploration operator in the Cooper Basin."

"The transaction with QGC (part of the BG Group, a global leader in gas commercialization), is the most significant milestone in Drillsearch's 24 year history. Importantly, it positions Drillsearch at the forefront of emerging Cooper Basin unconventional resource developments. This provides us with a platform for outstanding long-term growth opportunities and further growth in the Company’s already extensive conventional and unconventional gas projects in the Cooper Basin."

Key features of the transaction include:

• Execution of a Joint Operating Agreement (JOA) establishing the future joint venture operations in ATP 940P. The focus of the joint venture is to explore and develop shale and tight gas resources in the Central Cooper Basin Nappamerri Trough Shale Gas Fairway;
• Execution of a Farm-in agreement whereby QGC are committing to a five year $130 million three stage exploration and pilot production appraisal program to acquire a 60% joint venture interest in DLS' 100% owned ATP 940P;
• DLS will hold a 40% joint venture interest in ATP 940P and be the operator of the joint venture through the exploration and pilot production appraisal stages with the aim to prove up sufficient shale and tight gas resources to support a full scale development project;
• QGC will fund $90 million of the first $100 million of the five year exploration, appraisal and pilot production program and thereafter QGC and DLS will fund the program on a 60/40 basis;
• Following the completion of the exploration and pilot production appraisal program, QGC will have the right to become the operator of the joint venture to take the shale and tight gas resources through to full scale development;
• QGC and DLS have entered into a Gas Marketing Heads of Agreement providing that, as part of a full scale commercial development, QGC offering to buy DLS' 40% share of gas production from ATP 940P and DLS having the right to supply additional gas from its other Cooper Basin permits up to an additional 10% of the ATP 940P joint venture gas production;
• DLS will issue options to QGC to subscribe for up to 31,622,454 DLS shares at 62 cents per share exercisable any time prior to February 15, 2012 for a 9.9% ownership stake providing DLS with a potential $19.6 million of additional funding;
• QGC will also reimburse DLS for 60% of its historical past costs, capped at $2.5 million; and
• QGC will have the right to withdraw from the joint venture after the end of either the first or second stage of the five year work program upon which QGC's 60% interest in ATP 940P reverts to DLS.

The various agreements contain change of control provisions. The agreement under which QGC gains its interest in ATP 940P provides that, should a change of control occur (e.g., another entity gaining more than 50% of DLS shares), QGC can require (1) DLS to sell to QGC at an agreed price DLS' 40% in ATP 940P if that change of control occurs before the completion of the second stage of the exploration program at an agreed price, (2) DLS to sell to QGC at an agreed price a further 5% interest in ATP 940P if that change of control occurs after the completion of the second stage of the exploration program and (3) QGC may become the operator of ATP 940P. The Gas Marketing Heads of Agreement further provides that if DLS is subject to a change of control, QGC may terminate the gas marketing arrangements.

All of the Native Title and Environmental Approval process necessary for the award the ATP 940P to Drillsearch has been completed and the formal award of the permit is currently pending Queensland Government Ministerial approval. The commencement of the ATP 940 JV is subject to completion of this process and approval of the transfer of the interest in the permit once issued to QGC.

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Cooper to Abandon Wheatons-1 Well

- Cooper to Abandon Wheatons-1 Well

Friday, July 15, 2011
Cooper Energy Ltd.

The Wheatons-1 exploration well has been drilled to a total depth of 1882 mRT and wireline logs have been run and interpreted, according to Cooper Energy.

During drilling there were no hydrocarbon shows observed in the primary objective (Namur Sandstone) or secondary objectives (Birkhead, Hutton and Poolowanna Formations) and the evaluation of the wireline logs has confirmed the absence of hydrocarbons in all objective horizons.

The Wheatons-1 well will be plugged and abandoned as a dry hole. Preparations are in place to move the rig to the Rincon-1 drill site.

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Cooper Spuds Wheatons-1 Well

- Cooper Spuds Wheatons-1 Well

Friday, July 08, 2011
Cooper Energy Ltd.

Cooper reported that the Wheatons-1 exploration well in PEL92 spudded at 1100 hours Thursday, July 7, 2011. The surface hole has been drilled to 678 meters and the current operation is making preparations to run the 9 5/8" casing.

The well's primary objective is the Namur Sandstone with secondary objectives in the Birkhead, Hutton and Poolowanna Formations. Wheatons-1 is located 10 km northeast of the Parsons oil field and 6.4 km northwest of the Callawonga oil field. The well will be drilled to a total depth of about 1,860 meters and is expected to take about 10 days to drill and evaluate.

The primary objective Namur Sandstone, which is the oil reservoir in the nearby oil fields, is estimated to contain 0.551 million barrels of Prospective Resources (P50). The deeper formations would be expected to add to this estimate if they result in discovery.

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Drilling Started at Cooper's Parsons-5 Well

- Drilling Started at Cooper's Parsons-5 Well

Monday, June 27, 2011
Cooper Energy Ltd.

Cooper announced that the Parsons-5 appraisal/development well in PEL92 spudded at 3:00 am Friday, June 24, 2011. PEL92 lies in the north of South Australia on the western margin of the Cooper Basin. The current operation is drilling the surface hole.

Parsons-5 is targeting the Namur oil reservoir and is to be located 2.1 km to the north of the Perlubie-1 and 1.1 km to the south of Parsons-4 discovery wells. The well will be drilled to a total depth of about 1,358 meters and is expected to take approximately 8 days to drill and complete.

The Parsons South oil field is currently producing about 50 barrels of oil per day from the Parsons-2 discovery well in the Namur reservoir. Parsons-5 will be drilled at the crest of the mapped structure of the field. The well is expected to more efficiently develop the field and accelerate production.

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Cooper Plugs, Abandons Westall Well

- Cooper Plugs, Abandons Westall Well

Monday, June 20, 2011
Cooper Energy Ltd.

The Westall-1 exploration well has been drilled to a total depth of 1808 mRT and wireline logs have been run and interpreted.

During drilling there were no hydrocarbon shows observed in the primary objective (Namur Sandstone) or secondary objectives (Birkhead, Hutton and Poolowanna Formations) and the evaluation of the wireline logs has confirmed the absence of hydrocarbons in all objective horizons.

The Westall-1 well has been plugged and abandoned as dry hole, and the rig released on June 19, 2011.

The rig is currently moving to the Parsons-5 drill site as a development well.

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Cooper Seeks New Managing Director

- Cooper Seeks New Managing Director

Wednesday, June 15, 2011
Cooper Energy Ltd.

Mr. Scott has indicated his desire to hand over the reins of the Company and the Board of Cooper Energy has resolved to seek a new Managing Director to take the Company to the next growth level.

Mr. Scott will step down as the Managing Director and Director of Cooper Energy and all subsidiaries and will continue in a staff position to assist the Company to maintain its course during the search for a new Managing Director. Upon a new Managing Director being located, Mr. Scott will serve out his contractual notice period of six months and handover the responsibilities of running the Company to
the new Managing Director. The Board has initiated the search for a suitable replacement.

Mr. Michael Scott, current Managing Director, commenced with Cooper Energy on February 4, 2004. At that time the Company was an emerging Cooper Basin producer with 3 oil wells producing 600 barrels of oil per day and six exploration blocks in the Cooper Basin in South Australia. The Company now has ten oil fields with an oil production capacity in excess of 1,500 barrels of oil per day in Australia and Indonesia and a deep international exploration and appraisal/development portfolio across Australia, Indonesia, Tunisia, Poland and Romania. The Board thanks Mr. Scott for his contribution to the Company over the last seven and a half years.

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Senex Discovers New Oil Field in Cooper Basin

- Senex Discovers New Oil Field in Cooper Basin

Tuesday, June 14, 2011
Senex Energy Ltd.

Senex advised that the Vintage Crop-1 exploration well in South Australian Cooper Basin permit PEL 516 (Senex 100%) has discovered a new oil field with the successful testing of the McKinlay Member.

A gross oil column of 10 meters with a three meter net pay was encountered in the McKinlay Member of the Murta Formation. A Drill Stem Test on the McKinlay Member recovered 39 barrels of 54.6 API, light brown oil in a 3 hour flow period, equivalent to a flow rate of 312 barrels of oil per day. Preliminary interpretation of the Drill Stem Test and wireline log data indicates at least 305,000 barrels of oil in place from this well.

Oil shows were also detected in the Namur Sandstone and the Birkhead Formation. The Namur Sandstone interval will be tested after production casing has been run and coring of the Permian section has been completed.

At present the well is being set up to run the 7" production casing after which the well will be deepened into the Permian sequence to provide a preliminary evaluation of unconventional gas targets in the coals and shales underlying the oil targets.

A 9 meter core will be cut in the coal sequences of the Toolachee Formation and four 9 meter cores will be cut in the shale sequences of the Roseneath and Murteree Shales. The Toolachee Formation is over 100 meters thick and the Roseneath and Murteree Shales are expected to be at least 100 meters thick.

Senex will run a specialized logging suite to help determine the minerals present in the shales. Subsequently, the cores will be used for desorption tests to determine gas and hydrocarbon liquids contents, and to evaluate porosity, permeability and mechanical properties.

Senex Managing Director Ian Davies said, "This very pleasing result from the oil targets for Vintage Crop-1 in Senex's 100% owned PEL 516 further underpins the rationale for the acquisition of Stuart Petroleum, and the oil discovery will pay for the testing of the unconventional gas targets in the underlying coals and shales."

Vintage Crop-1 is located approximately 65 kilometers south east of Moomba, close to Santos' oil-producing Narcoonowie and Caroowinnie fields.

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Cooper Spuds Westall Well

- Cooper Spuds Westall Well

Tuesday, June 14, 2011
Cooper Energy Ltd.

Cooper announced that the Westall-1 exploration well in PEL92 spudded at 0700 hours Sunday, June 12, 2011. The surface hole has been drilled to 640 meters and the current operation is making preparations to run the 9⅝" casing.

The well's primary objective is the Namur Sandstone with secondary objectives in the Birkhead, Huttonand Poolowanna Formations. Westall-1 is located 2.8 km northwest of the Perlubie oil field and 3 km southwest of the Parsons oil field in South Australia's onshore Cooper basin. The well will be drilled to a total depth of about 1,765 meters and is expected to take about 8 days to drill and evaluate.

The primary objective Namur Sandstone, which is the oil reservoir in the nearby oil fields, is estimated to contain 1.01 million barrels of Prospective Resources (P50). The deeper formations would be expected to add to this estimate if they result in discovery.

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Cooper Terminates Farmout Agreements with GB

- Cooper Terminates Farmout Agreements with GB

Friday, June 10, 2011
Cooper Energy Ltd.

Further to the COE announcement made on March 8, 2011 regarding:

• Farm-out of 9.165% of PEL100
• Farm-Out of 20% of PEL495
• Farm-Out of 10% of PEL110

to GB Energy (GBX), Cooper Energy advised the Conditions Precedent to each Farm-Out Agreement have not been satisfied.

Cooper Energy has terminated the Farmout Agreements on the basis the Conditions Precedent were not satisfied. Cooper Energy will retain the interests the subject of the Farm-Out Agreements.

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Cooper Briefs on Worrior Divestment

- Cooper Briefs on Worrior Divestment

Thursday, June 09, 2011
Cooper Energy Ltd.

Cooper Energy has been advised that GBX has not raised the capital necessary to conclude the purchase.

In light of the above, Cooper Energy has issued a notice of termination in relation to the Share Sale Agreement under which GBX was to purchase all of the shares in Worrior (PPL 207) Pty Ltd. Cooper Energy will therefore retain full beneficial ownership of the following assets:

• 30% of the Worrior Oil Field
• 25% of PEL90
• 30% of PEL93

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Cooper Drills Duster at Turton Well

- Cooper Drills Duster at Turton Well

Wednesday, June 08, 2011
Cooper Energy Ltd.

The Turton exploration well, located in the Cooper basin onshore South Australia, has drilled to a total depth of 1777.5 mRT and wireline logs have been run and interpreted.

During drilling there were no hydrocarbon shows observed in the primary objective (Namur Sandstone) or secondary objectives (Birkhead and Poolowanna Formations) and the evaluation of the wireline logs has confirmed the absence of hydrocarbons in all objective horizons.

The Turton-1 well has been plugged and abandoned as dry hole, and the rig released on June 6, 2011.

The rig is currently moving to the Westall-1 drill site.

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