Karbine 1 - Progress Report 24 December 2002
ASX Announcement Letter
24 December 2002
Mr B O’Hara
Australian Stock Exchange Limited
2 The Esplanade
PERTH WA 6000
By Fax: 1300 300 021
Dear Mr O’Hara,
ANNOUNCEMENT TO ASX - Karbine 1 Progress
Cooper Energy Limited advises of the progress of the drilling of the Karbine 1 well, as follows:
| Location: | PEL 93; about 50 km south west of Moomba. |
| Spud Date: | 12 December 2002 |
| Days since spud: | 15 |
| Well Depth: | 1,900m (Total Depth) |
| Current Operation: | Conditioning hole. |
| Comment: | Attempts to run wireline logs have so far been unsuccessful due to hole conditions. |
| Interests: | Stuart Petroleum Limited (Operator) 70%
Cooper Energy Limited 30 |
Cooper Energy is funding all costs of the well.
For further advice on this release, please contact either Greg Hancock (08) 9335 2155 or Tony Wright (08) 8363 2111
Yours faithfully
Greg Hancock
Chairman