Cooper Energy chief executive Mike Scott said that, if successful, the two development wells would increase and accelerate the combined production from the Worrior and Christies fields by approximately 25%.
"This will have a similar positive impact on the company’s revenue," said Scott.
“Since we are unhedged and leveraged to the increasing world oil price we will also receive a further benefit from accelerating production at this time,” he said.
Christies-2, located 280m southwest of Christies-1 in PEL 92 (Cooper 25%) and 100km west of Moomba in South Australia, is expected to access an additional 500,000 barrels of oil reserves.
Cooper has a 30% interest in Worrior-2 (PEL 93) located 250m north-northwest of Worrior-1 and 50km southwest of Moomba, South Australia. Production is expected shortly after drilling with the well to be completed as an oil producer in the Murta, McKinlay and Hutton formations and the Patchawarra formation will be tested.
Worrior-2 will also test the areal extent of the deeper Patchawarra gas reservoir that was discovered by Worrior-1. Data obtained in the Worrior-2 well will be used in studies to determine the economic viability of a potential Worrior gas development.
Scott said the Arwon-1 wildcat well was the first well to be drilled on several structures identified by the recently completed Worrior 3D seismic survey.
Arwon-1 will be drilled on the Arwon prospect, a four way dip closure straddling the border between PEL 93 and PEL 113, located 2.5km east-northeast of the Worrior production facility. Cooper Energy has an 11.2% working interest in the well and any subsequent discovery.
The Arwon Prospect is targeting total pre-drill assessed reserves in the McKinlay, Birkhead and Hutton reservoirs of approximately 3 million barrels of oil.
The Arwon-1 well will also test for gas in the deeper Patchawarra formation and well data will be used to determine the economic viability of a potential Arwon gas development.
Scott said Arwon was thought to be on the hydrocarbon migration path for the Worrior prospect, which increased the chances of success for the well.
