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Perlubie-2 Plugged and Abandoned

Perlubie2 Plugged and Abandoned Since the last ASX announcement (COE190811a Perlubie2 Spud), the Perlubie2 appraisal/development well has been drilled to a total depth of 1366 mRT and wireline logs have been run and interpreted. Perlubie2 has encountered the Namur sandstone reservoir low to prognosis and logging has confirmed an oil column in Namur and McKinlay Member sandstone reservoirs. Due to the small height of the oil column, the well is not expected to recover sufficient oil to justify a completion and tiein to the production system and therefore the PEL 92 JV has decided to plug and abandon the well. The rig will be moved to Germein1 well location as the next exploration well. An announcement on Germein1 will be made following spud of the well. Regards, Cooper Energy Limited Ian Gregory Company Secretary.