| Sensation-1 Spuds 18 May 2015 | |
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18 May 2015
Cooper Energy Limited (ASX: COE) reports that Sensation-1, an oil exploration well located in PRL
98 (refer map following) on the western flank of the Cooper Basin, South Australia, spudded on Monday 18 May 2015 at 00:15 hours. At 06:00 hours this morning, the rig was drilling ahead at 62 metres in 12-1/4 inch surface hole.
The Sensation-1 well location is 2.9 kilometres north of the Callawonga Field. Sensation-1 is being drilled to a total depth of 1,923 metres in the Merrimelia Formation and is anticipated to be completed within 8 days.
The primary target of Sensation-1 is the Namur Sandstone, which is the oil-bearing reservoir in several fields in PEL 92 (Callawonga, Parsons, Windmill). The secondary targets of Sensation-1 are the McKinlay Member, Birkhead Formation and Poolowanna Formation, which are oil-bearing in several PEL 92 fields (e.g. Callawonga, Christies, Sellicks).
The drilling of Sensation-1 will conclude the current three well drilling campaign. The previous wells, Callawonga-10 and Callawonga-11 recorded development and appraisal successes.
Cooper Energy Limited holds a 25% interest in PRL 98, with the balance held by the Operator, Beach Energy Limited.
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David Maxwell
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Don Murchland
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Managing Director
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Investor Relations
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+61 8 8100 4900
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+61 439 300 932
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Location of Sensation-1, Cooper Basin
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Cooper Energy
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CODE : COE.AX |
ISIN : AU000000COE2 |
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Cooper Energy is based in Australia. Cooper Energy holds various exploration projects in Tunisia. Its main exploration property is NABEUL in Tunisia. Cooper Energy is listed in Australia and in Germany. Its market capitalisation is AU$ 233.7 millions as of today (US$ 152.5 millions, € 142.5 millions). Its stock quote reached its highest recent level on April 13, 2012 at AU$ 0.69, and its lowest recent point on September 01, 2023 at AU$ 0.11. Cooper Energy has 1 140 189 952 shares outstanding. |