Cooper Energy Ltd. released the update on Sole Gas Project

gas

Completed Sole-4 flow-back successfully: Cooper Energy Ltd.’s (ASX: COE) stock rose 1.489% on August 06, 2018 (before market close) after the company’s Sole-4, which is the second of two production wells for the Sole Gas Project, has been shut-in for future connection after the successful clean-up and flow-back operations. During mid to late July, COE had conducted the clean-up and flow-back test on a near-horizontal 112 metre section of the Top Latrobe Group sandstone reservoir. The preliminary technical analysis shows that Sole-4 is expected to produce at or near the onshore plant capacity of 68 TJ/day.

The company’s gas composition at Sole-4 is in line with expectations and is also consistent with measurements from both Sole-3 and the earlier Sole-2 appraisal well. H2S concentrations are as expected, and are well within plant specifications. Overall, the testing of Sole-4 reflects a successful drilling program for the Sole Gas Project. Additionally, COE expects the pipelay operation to connect the Sole gas field with the Orbost Gas Processing Plant to commence in October 2018. Meanwhile, COE stock has risen 27.03% in three months as on August 03, 2018.

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