Cooper Energy (ASX: COE) is pleased to provide the following operations update

Orbost Gas Processing Plant and Sole gas field At the Orbost Gas Processing Plant (OGPP) (owned and operated by APA Group (ASX: APA)), operations are returning to steady state following the shutdown which commenced on 26 March. The average processing rate for April (from the recommencement of processing) was 41 TJ/d. There was a dual sulphur absorber clean from 28 April to 2 May. The peak processing rate was 36.6 TJ/day during this clean. On 4 May, the OGPP processing rate was increased to 60 TJ/d. The Phase 2B shutdown works experienced delays due to heavy rainfall leading to a flood event restricting access to the gas plant. Mitigation actions were taken to ensure the delay was minimised, with the OGPP returning to production on 9 April. The implementation of the sulphur removal package is ongoing and will be tied-in at a future time. The H2S polishing unit is online and performing to expectations.

Exploration

In April, Cooper Energy was granted 100% equity in a new exploration permit VIC/P801. VIC/P80 is located in the Gippsland Basin, adjacent to several gas and oil fields, including Sole to the east, Manta to the south, and Kipper to the west. Wobbegong is the key prospect in VIC/P80. Cooper Energy's estimate of its unrisked Prospective Resource potential is 79 Bcf (P90), 192 Bcf (P50), 236 Bcf (Mean) and 264 Bcf (P10). In combination with the Manta and Chimaera Deep prospects, the combined mean unrisked Prospective Resource potential is approximately 1 Tcf. In the remainder of CY2022 geologic and geophysical studies in this permit will concentrate on remapping the Manta Hub area with new 3D seismic data

Athena Gas Plant and Casino Henry Netherby (CHN) gas fields

The average processing rate at the Athena Gas Plant was 21.8 TJ/d in April, 19% lower than the March rate of 26.8 TJ/d. The rate was impacted by a two-day plant shutdown on 20 April due to a mechanical failure on one sales gas compressor dry gas seal. The seals were replaced, and the equipment returned to service. The Athena Gas Plant was processing at lower rates until the repair was completed. Work to optimise combined plant and field performance is ongoing. Ownership interests of the Athena Gas Plant and CHN fields are Cooper Energy (50% and Operator), Mitsui E&P Australia Pty Ltd (25%) and Peedamullah Petroleum Pty Ltd (25%).

Contact:

David Maxwell

Tel: +61 8 8100 4900

Cooper Energy Limited (ASX: COE) is an exploration and production company which generates revenue from gas supply to southeast 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-focused acreage and assets, including well located reserves and resources in the Otway and Gippsland basins. These include the Sole gas field in the Gippsland Basin which recently became the first new offshore gas development in south-east Australia to commence production in several years, the Casino Henry operations in the offshore Otway Basin and undeveloped resources such as Manta and Annie

(C) 2022 Electronic News Publishing, source ENP Newswire