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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