COE 0.47% 53.3¢ cooper energy limited

it must be a secret

  1. 1,747 Posts.
    Cooper Energy announced today that they now have a second producing well and that it has further increased reserves.

    It must have been a secret or in invisible ink.

    The market gave a big yawn.

    Regards M.

    com.au
    14 July 2003
    Australian Stock Exchange Limited ELS122004
    Company Announcements Office
    Electronic Lodgement System
    Dear Sir / Madam
    FINAL DRILLING REPORT: CHRISTIES – 1
    Cooper Energy NL advises its final drilling report for Christies-1, as follows:
    Location: PEL 92; about 80 km west of Moomba and about 11 km south-west of
    Sellicks-1
    Spud Date: 1000 hours (CST) on 23 June 2003
    Days since Spud: 21
    Operation Summary: The Christies-1 well has been successfully cased and completed for oil
    production from the Birkhead Formation.
    Commercial production is expected to commence within the next two or
    three months. Preliminary rates are expected to be of the order of 250
    barrels of oil per day with potential to increase following formation clean-up
    after a period of production from the reservoir zone.
    Reserves estimates for the Christies structure have been upgraded following
    completion of the well. Potential highside reserves are now assessed to be
    approximately 1.3 million barrels of recoverable oil.
    The joint venture will continue to monitor the well’s performance with a
    view to drilling development wells on the Christies structure in early 2004.
    Final Total Depth: 1957 metres (revised from 2054 metres)
    Interests: Beach Petroleum Ltd (Operator) 75%
    Cooper Energy NL 25%
    This report is posted on the website at www.cooperenergy.com.au
    For further information please contact Mr Greg Hanc*ck on 0418 263 388 or Mr Tony Wright on 08-8363 2111.
    Yours faithfully,
    COOPER ENERGY NL
    Mr G Hanc*ck
    CHAIRMAN
 
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