COOPER COMPLETES SECOND PRODUCTION WELL FOR THE SOLE GAS PROJECT

August 07, 2018

Cooper Energy announces that Sole-4, the second of two production wells for the Sole Gas Project, is being shut-in for future connection after successful clean-up and flow-back operations. Sole-4 was drilled, sandscreens installed and gravel packed during mid to late July. The clean-up and flow-back test was conducted on a near-horizontal 112 metre section of the Top Latrobe Group sandstone reservoir. During the 11-hour main flow period through a 192/64” choke, the flow rate averaged approximately 54 MMscf/d. Preliminary technical analysis indicates Sole-4 can produce at or near the onshore plant capacity of 68 TJ/day. The gas composition at Sole-4 is in line with expectations and consistent with measurements from both Sole-3 and the earlier Sole-2 appraisal well. H2S concentrations are as anticipated and well within plant specifications. Diamond Offshore Ocean Monarch conducting flow-back operations at Sole-4, 4 August 2018 2 Cooper Energy Managing Director David Maxwell said the testing of Sole-4 concludes a successful drilling program for the Sole Gas Project. “Both Sole-3 and Sole-4 have delivered on design and confirmed our assessment of the excellent deliverability of the Sole reservoir. We now have two wells, ready to go, that have shown capability for higher production rates than design should the plant throughput enable this” he said. “Having now completed the workstream which carried the greatest financial exposure, the project remains within schedule and within budget. As the remaining workstreams are based on fixed price lump sum contracts, this position has further reinforced our confidence in project completion within the forecast budget of $355 million” said Mr Maxwell. Sole-4 is currently being suspended prior to pipeline connection. Pipeline welding is advancing with 47 km of the 65 km total length having been welded into 1.5 km stalks. It is expected the pipelay operation to connect the Sole gas field with the Orbost Gas Processing Plant will commence in October 2018. (Source and image: Cooper Energy)