Cooper Energy Limited advises that Perlubie-3, an oil appraisal well located in PPL 247 on the western flank of the Cooper Basin, spudded on Monday 30 March, 2015 at 00:30 hours. At 06:00 hours this morning the rig was drilling 12-1/4 inch surface hole at 83 metres.
Perlubie-3 is targeting the Namur Sandstone and is prognosed to drill to a total depth of approximately 1,415 metres to appraise and develop the northern area of the Perlubie oil field. The well is located 300 metres west of Perlubie-1 and is expected to take approximately 9 days to drill and case.
The Perlubie field was discovered in 2009 and has produced approximately 131,000 barrels of oil from the Namur Sandstone reservoir since production operations commenced in May 2009. Cooper Energy holds a 25% interest in PPL 247 with the balance held by the Operator, Beach Energy Limited.