Cooper Energy begins mobilization of jack-up drilling rig to Tunisia

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15 February 2013, Oil

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The drilling rig is being mobilised from the Black Sea and is expected to arrive in Tunisia and commence drilling of the Hammamet West-3 well in late March 2013.

The Hammamet West-3 well will be located offshore in water depths of approximately 50 meters. Results of two vertical wells previously drilled indicate that an oil column is present in the target Abiod Formation. The objective at Hammamet West-3 is to drill and test a highly deviated wellbore through the Abiod Formation to confirm oil productivity.

Cooper Energy's contribution to the well will be fully funded up to a gross amount of $26.6 million by Dragon Oil (paying 75% to earn 55%) and Jacka Resources (paying 30% to earn 15%).

Source: MarketLine

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