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MENAFN - ProactiveInvestors - Australia - 09/10/2012

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(MENAFN - ProactiveInvestors - Australia) Cooper Energy (ASX: COE) and Beach Energy (ASX: BPT) have made a new oil discovery in the Cooper Basin Western Flank.

The Windmill-1 exploration well in PEL 92 intersected a 6 metre net oil column in the Namur Sandstone and some interesting indications of oil within the Birkhead Formation.

The Birkhead will undergo further evaluation through a wireline pressure survey and possibly a drill stem test.

Windmill-1 was drilled to a total depth of 2,100 metres and is located just 2 kilometres southwest from the producing Callawonga oil field.

The Callawonga field was discovered in July 2006 and started producing oil in November that year.

It currently produces oil from four wells.

Windmill-1 will be followed by the Tinah-1 well about 8 kilometres north of Callawonga.

Cooper has a 25% stake in PEL 92.

 






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