The Perth-based junior said its 2007 plans included two “high growth” potential wells in Indonesia and up to six Cooper Basin wells.

“This drilling program represents one of the most significant growth initiatives in Cooper Energy’s history,” chief executive Mike Scott said.

“We have announced a potentially company-changing, eight-well drilling program that is targeting hundreds of millions of barrels of liquids and large gas volumes.”

Starting in July, the company will spud the Kurnia-1 exploration well, located in the onshore South Madura block in Indonesia, using the Parker 253 Rig.

Kurnia-1 is targeting 200 million barrels (MMbbl) of recoverable oil and 256 billion cubic feet of gas at the P50 level of confidence.

A 243km 2D seismic program has also begun in the South Madura PSC, designed to mature further prospects for drilling.

At the end of the year, the company also expects to spud a second Indonesian well located offshore North East Sumatra in the Seruway PSC, in which Cooper acquired a 22.5% stake earlier this year.

The Gurame-1 well is appraising the undeveloped Gurame gas field, located 50km from the giant Arun gas field and liquefied natural gas plant.

To date, the field has been delineated with five appraisal wells – all of which have encountered natural gas.

Discovered recoverable hydrocarbons are estimated to be 400 million to 2.7 trillion cubic feet of gas (P90-P10) and 20-150MMbbl of condensate (P90-P10).

Cooper in the Cooper

Back in Australia, Cooper this year plans to drill up to six Cooper Basin wells, including two development wells in the Callawonga oil field.

The four exploration wells are expected to include Rainbird-1 in PEL 93, a well in PEL 100 expected to spud in either July or August, and two exploration wells in PEL 92 in October and November.

The Callawonga-2 and Callawonga-3 development wells in PEL 92 are scheduled for drilling in August and September, respectively, targeting updip locations.