ASX Announcement / Media Release

15 October 2019

New gas discovery at Dombey-1DW1

  • Gas intersected in primary target Pretty Hill Formation
  • Further testing and analysis required to establish commerciality

Cooper Energy (ASX: COE) a 30% interest holder in PEL 494 (operated by Beach Energy 70% interest) in the Penola Trough, onshore Otway Basin, South Australia (Figure 1), advises that the Dombey-1DW1 exploration well has encountered gas in the primary target Pretty Hill Formation. A gross gas column of

44.5 metres, with an estimated net pay thickness of 25 metres, has been identified with an interpreted gas-water contact in the reservoir. Gas sample analysis indicates a low inert content.

Dombey-1DW1 has been drilled to 3,384 metres MDRT1 and formation evaluation is ongoing. Further testing and analysis are required to establish commerciality however this initial data is encouraging.

Dombey-1 is being drilled with the assistance of a $6.9 million PACE grant from the South Australian government.

Dombey-1 Interim results summary

Discovery formation:

Pretty Hill Formation

Reservoir lithology:

Sandstone

Top reservoir depth:

1,935 metres MDRT1 (1,795 metres TVDSS2)

Estimated net pay thickness:

25 metres

Depth of zones tested:

Pressure testing while drilling and wireline pressure testing and

fluid sampling over the interval 1,923 - 3,284 metres MDRT1

Completed interval:

Not applicable

Hydrocarbon phases:

Gas with a low inert (non-hydrocarbon) content

  1. MDRT = Measured Depth Rotary Table
  2. TVDSS = True Vertical Depth Subsea

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Figure 1: Dombey-1 Location Map

Further comment

Investor Relations

David Maxwell

Don Murchland

Managing Director

Investor Relations

+61 8 8100 4900

+61 439 300 932

About Cooper Energy Limited (ASX:COE) is an ASX listed exploration and production company which generates revenue from gas supply to south-east Australia and low cost Cooper Basin oil production. The company is an emerging player in the south-east Australian energy sector holding a portfolio of gas supply contracts and one of the most extensive portfolios of gas-focussed acreage and assets, including well located reserves and resources in the Otway and Gippsland basins. The most significant resource, the Sole gas field in the Gippsland Basin, is currently being developed to provide a new source of gas supply for south-east Australia from 2019.

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Cooper Energy Limited published this content on 15 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2019 23:11:05 UTC