The Perth-based company said the infill wells boosted output by about 800 barrels of oil per day and are expected to boost its recoverable oil reserves, at the P50 level of confidence, to more than one million barrels.

"The infill drilling program was an outstanding success which boosted production and recoverable oil, laying the foundations for another strong year of revenue and profit for the company," Cooper managing director Michael Scott said.

Currently, Cooper is producing about 1500bopd, with output expected to rise further in April when the Parsons oil field and Callawonga flowline come online.

"We now expect to produce 350,000 barrels of oil [in fiscal 2007/08], which is at the upper end of our annual production budget," Scott said.

Revenue for the six months to December 31 was up 93% to 18.8 million compared to the previous corresponding period, as a result of the higher production and strong oil prices.

As a result, half-year net profit after tax soared 187% to $5.3 million.

Parsons-1 is expected to add a further 800bopd to Cooper's production when it comes onstream in April.

The well, which is operated by Beach Petroleum, was flow-tested at 3362bopd in December last year.

A further production boost is expected in April when the Callawonga flowline, which is currently under construction, is commissioned.

"The Callawonga flowline will provide two main benefits to the company - as the flowline will reduce the need for long-term trucking, it should be able to primarily provide an uninterrupted production stream that is sheltered from weather and road mechanical downtime and, secondly, it will be a more cost effective offtake mechanism thereby reducing production costs," Scott said.

The company will participate in the drilling of the Parsons-2 appraisal well next month, as well as the Gurame-1X well in the Seruway PSC in northeast Sumatra.