Ocean Monarch, page-5

Cooper Energy (ASX:COE) announces the semi-submersible drilling rig Ocean Monarch, operated by Diamond Offshore, has commenced mobilisation from the Gippsland Basin to the Otway Basin where it is to drill 2 offshore gas exploration wells.The wells, Annie-1 and Elanora-1, will be the first offshore gas exploration wells drilled in the Otway Basin in seven years. Cooper Energy (Operator and 50% interest holder) and Mitsui E&P Australia (50% interest) are drilling the wells to identify new sources of gas supply for south-east Australia.Commercial discoveries resulting from the program can be economically developed through connection to the companies’ existing Casino Henry gas operations from 2021. Location of the well-sites and the surrounding gas industry operations are illustrated in Figure-1 on the following page.The Ocean Monarch is expected to arrive on location at the Annie-1 well-site, 9 km offshore Peterborough, around Wednesday 31 July. The rig is expected to be visible from the coast for the duration of the well which is forecast at 35 days.