re: consolidated come on kellymm, stop the ramping! From your...

re: consolidated come on kellymm, stop the ramping! From your last post( mate, south madura is an identified 200mmbo potential discovery. ) since when does potential and identified mean the same.. But an existing shallow well encounted sand stone with 4 meters gas comments please.) Here is part of their original release!


Monday 5 September 2005
Australian Stock Exchange
Company Announcements Office
Electronic Lodgement System
ELS 112006
Dear Sir,
COOPER ENERGY ACQUIRES 45% STAKE IN SOUTH MADURA ONSHORE PSC
Cooper Energy Limited (ASX code: COE) through its 100% owned subsidiary CE South Madura
Ltd, a company registered in the British Virgin Islands, has acquired a 45% stake in the South
Madura PSC (“the PSC”), Madura Island, Java, Indonesia (see attached map).
The PSC lies in an attractive hydrocarbon fairway surrounded by a large number of discovered
fields, including the recent Jeruk and Oyong oil and gas discoveries, which lie immediately to the
south of the PSC. The PSC is primarily onshore and covers the south of Madura Island. Madura
Island is located in East Java approximately 120 km north west of Bali.
The first well in the PSC is expected to be drilled in early 2006, after which there are a large
number of follow-up targets. The first well will test the Ngrayong gas discovery and an underlying
Kujung carbonate prospect, which lies at a depth of approximately 3,200 metres.
The Kujung Prospect is a carbonate reef structure, which appears to be analogous to the Jeruk
Field. The reef prospect has been previously overlooked because it lies in the transition between
the onshore and offshore exploration areas. At the shallower Ngrayong sandstone level, an
existing shallow well on the block encountered a sandstone with 4 metres of gas. This well was
not tested and the discovery was not developed because gas was historically considered
economically unattractive in this area. Seismic evaluation has indicated that this well penetrated
the flank of a valid structure, which may result in a future economic gas field pending further
evaluation. The PSC contains several additional prospects at the Ngrayong and Kujung levels.