Cooper Energy hampered by flooding

Cooper Energy Ltd says flooding in the Cooper Basin is likely to have an impact on its South Australian operations as roads are cut off and oil fields are isolated.

Over 80 per cent of the oil and gas producer and explorer's production is delivered to market by the PEL92 (petroleum exploration licence) flow-line and this production is continuing, the company said on Thursday.

But the non-flowline production is expected to suffer some deferment due to roads being cut-off and oil fields being isolated.

"Deferment of the non-flowline production may cause a 10-15 per cent impact on revenue for the current reporting period but this is expected to be recuperated in subsequent periods," Cooper said.

The schedule impact and financial magnitude of the flooding cannot yet be fully determined as the effect of the flooding is ongoing even though the high rainfall has abated for now, Cooper's managing director Michael Scott said in the statement.

"Due to movement restrictions, safety considerations and financial practicalities we are forced to defer some of our operations until Mother Nature returns the desert to near-normal conditions," he said.

The PEL92 flowline is continuing to deliver over 80 per cent of our oil to market but the company is taking steps to mitigate the effects of the encroaching flooding Cooper Creek to preserve the oil delivery, it said.

Seismic operations have been slowed or curtailed due to access problems, Cooper said.

Cooper Energy shares fell 1.5 cents to 49.5 cents.