24/06/2009 - 11:42

Cooper Energy makes new oil discovery

24/06/2009 - 11:42

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South Perth-based Cooper Energy says potential exsits for further oil discoveries in the Cooper Basin after testing confirmed the Butlers-1 well is a new oil discovery.

South Perth-based Cooper Energy says potential exsits for further oil discoveries in the Cooper Basin after testing confirmed the Butlers-1 well is a new oil discovery.

 

The announcement is below:

 

Further to the announcement made this week on the Butlers-1 oil shows (COE230609a), the wireline logging program has been completed on the Butlers-1 well and has confirmed that Butlers is a new oil discovery.

The preliminary evaluation of the logging program shows that Butlers-1 has intersected an oil column of approximately 4.5 metres in the Namur Formation.

The logs show that the reservoir appears to be high quality and the intersected oil column height is similar to the pre-drill estimates.

Estimates of the recoverable oil volumes are currently under review. The estimates will be announced once post-drill mapping and volumetric parameters have been finalised.

The well will be cased and suspended as a future oil producer and will most likely be tied into the production system through the nearby Perlubie and Parsons Oil Fields.

Butlers-1 is located just south of the Perlubie-1 and Perlubie South-1 oil discoveries.

The Butlers Oil Field is one of the most westerly oil discoveries in the Cooper Basin and provides encouragement for further discoveries in the PEL92 area.

 

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