Cooper Energy (COE) provides the following update on its offshore Otway gas exploration program
in VIC/P44 (Cooper Energy Operator and 50% interest holder).
On 6 September the Annie gas field discovery was announced. The Annie-1 wellbore has now been
securely plugged with downhole cement plugs installed. Abandonment of the well has been delayed
following failure of 2 of the Diamond Offshore Ocean Monarch drilling rig’s 8 mooring chains.
This incident has required repair to the affected chains and inspection of the remaining 6 chains. It is
expected this work will be completed later this week, at which point final abandonment operations will
resume, weather permitting. Abandonment of Annie-1 is now expected to be completed within the next
Analysis into the root cause of the failure of the 2 mooring chains may take more than a month to
complete. Therefore, Cooper Energy has proposed to defer the drilling of the Elanora-1 well that was
scheduled to follow Annie-1. Drilling of Elanora-1 will be considered in the context of future campaigns.
Cooper Energy Managing Director David Maxwell said “While we are closing the drilling campaign early
after the completion of one well, we are pleased with its outcome.
The discovery of the Annie gas field
has added to our portfolio of development opportunities which can add to our reserves and production
growth. Elanora remains as an exploration target to test in the future”.