At 06.00, the well had been drilled to 187 metres and was drilling ahead in 12 ¼” hole in the Winton Formation.

Cooper Energy holds a 25% interest in the PEL 92 Joint Venture with the balance held by the Operator, Beach Energy Limited.

Callawonga-16 is the fourth of a five well campaign on the Callawonga oil field targeting previously undeveloped reserves in the McKinlay Member Sandstone. As previously advised, the drilling campaign will address locations designated as Callawonga 14-18. The three wells in the program drilled to date, Callawonga-14, Callawonga-18, and Callawonga-15, have been cased and suspended as future oil producers.

Callawonga-16 has a prognosed total depth of 1,425 metres and aims to further develop the interpreted structural high of the field. The well is expected to take 6 days to complete.