Heres this weeks comments from OGW - might get nto a bit of...

Heres this weeks comments from OGW - might get nto a bit of strife for posting this but were all in the x-mas spirit so enjoy.

Cooper Energy reported this week that it would production test selected intervals in the carbonate reservoir from 3,004 to 3,081 metres
Carbonate is one of the two most common petroleum reservoir rocks, the other being sandstone. Carbonate is a mixture of limestone and dolomite. The limestone comes from the shells of sea creatures. The dolomite results from a chemical reaction between water born magnesium and calcium which transforms the original limestone.
Carbonate can be a good reservoir or a poor one. It depends on texture and how the limestone was deposited. Compacting of limestone at depth for example can lower porosity and permeability. On the other hand a number of
the giant Middle Eastern oil fields produce from limestone reservoirs. Where the carbonates are compacted and of low porosity that is “tight”, which appears to be the case at Kurnia, the operator will hope for natural
fractures in the rock to provide moveable hydrocarbons. Cooper will test for the presence of these fractures and for possible commercial flows of oil or
more likely gas. Remember Cooper’s first reports indicated that at least the first 29 metres of the interval now to be tested was described as poor quality interbedded carbonate and shale with one 10 metre interval of carbonate potentially gas
bearing. And said that the formation was unlikely to be production tested.
We would not read too much into the operator’s decision to attempt to flow test the upper Kujung carbonate. If they are lucky they might get some gas to help defray the cost of the well. And if gas is present they may be able to
acidise the carbonate to enhance the recovery factor. But the target was millions of barrels of oil and that doesn’t appear to be present.
Cooper said it not to expect results before the end of December or early January. If the well disappoints, which we suspect will be the case, then we will be looking to buy Cooper at 60-65 cents as the market reacts to the final result.