DRILLING

Christies-1 to spud in Cooper Basin

Partners Cooper Energy (25%) and Beach Petroleum (75%) are expected to spud the Christies-1 well, located in PEL 92 in the Cooper Basin, this weekend.

The well is the first in the company's 2003 drilling program, and was originally scheduled to begin after the Moana-1 well. However, the company upgraded the Christies prospect, which is estimated to have a mean recoverable reserve of one million barrels.

The structure lies 11 km south west of the Sellicks-1 oil discovery and Cooper Energy is to fund 50% of the cost of the well, which will complete its obligations in the permit and earn its 25%.

Following the Christies and Moana wells it is believed the Brighton prospect will be the next target. Brighton has been assessed to have similar mean reserves to Christies-1.

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