annoucement out

Cooper Energy Limited (“Cooper Energy: ASX:COE) as Operator and 30% joint venture interest-holder of the Bargou Permit offshore Tunisia provides the following update on the production testing of Hammamet West-3 announced to the ASX on 6 August.
As advised, production testing of Hammamet West-3 commenced at 19:30 hours on Monday 5 August, with an attempt to flow the well without acid stimulation. The initial flow period, of 2 hours 11 minutes, produced 25 barrels of fluid to surface. The well was shut-in to obtain an accurate measurement of reservoir pressure, as planned.
Clean-up flows were conducted during a 6.5 hour period on 6 August. During the clean-up flow period, 111 barrels of fluid (formation oil, base oil1 and drilling brine) were produced to surface tanks along with formation gas. Flow rates, measured by 15-minute tank dips, averaged 413 barrels of fluid/day with surges up to a maximum of 1,700 barrels of fluid/day. Gas flared at surface contained 3% CO2 and no H2S.
Prior to commencing the main flow period, coiled tubing operations were conducted in preparation for the introduction of acid into the wellbore. On 7 August the coiled tubing became stuck inside the production tubing due to an accumulation of loss circulation material produced from the Abiod Formation. Operations to free the obstruction have been unsuccessful to date.
It is intended to remove the coiled tubing so that testing operations may resume. Specialised cutting equipment has been mobilised to the rig to assist removal of the coiled tubing from the well bore. It is expected that, depending on the results of the ‘cutting’ operations, testing operations may recommence in another 7 to 14 days.
Cooper Energy Executive Director- Exploration and Production, Mr Hector Gordon, said “while the well has continued to progress slowly, the results have been positive. Our pre-drill reservoir model has been confirmed by the fractures defined while drilling and the oil recoveries to date.”
“We are confident that the Hammamet West structure contains a material oil resource. Whilst there have been delays, the results so far are very encouraging” said Mr Gordon.