Beach Energy Limited Stock Market Press Releases and Company Profile
Beach Petroleum Limited (ASX:BPT)
Beach Petroleum Limited (ASX:BPT)

Adelaide, July 22, 2009 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announces the drilling report for the week ending 22 July, 2009. Highlights of the week's activities include:

Beach Petroleum Operated Cooper / Eromanga Exploration (PEL 92)

Willunga-1 (Beach 75%) has been plugged and abandoned after wireline logs confirmed the absence of commercial volumes of hydrocarbons in the well. The Ensign 30 rig is being moved to the Murninnie-1 well site, located 14 kilometres north of the Parsons Oilfield. Murninnie-1 will be addressing mean recoverable oil reserves of 0.8 mmb and a P10 or high side potential of 1.8 mmb (recoverable).

Arrowie Basin (South Australia) - Paralana-2 Geothermal Exploration Well

The Paralana-2 geothermal exploration well (Beach earning 21%) is drilling ahead at a depth of 796 metres.

Browse Basin, Offshore Western Australia - Burnside 1ST1 Gas Exploration Well

Burnside-1ST1 (Beach 7.34%) is at a depth of 3823 metres. The current operation is preparing to run 9 5/8" casing.

Basker - Manta - Gummy (BMG) Oil Field Development - Gippsland Basin

The Ocean Patriot semisubmersible rig has successfully completed its workover operations on Basker-3 and is now moving to the Basker-7 development well location (Beach 30%).
---------------------------------Well               Participants---------------------------------Willunga-1         BPT*    75.00%PEL 92             COE     25.00%Oil ExplorationC/E Basin, SA---------------------------------------------------------Weekly Progress & Summary              Primary Targets---------------------------------------------------------Report Time: 0600 hrs (CST)22/07/2009  Namur SandstoneDepth:       1757m (TD)                Birkhead FormationOperation:   Well has been plugged and             abandoned. Ensign 30 rig             is being moved to             Murninnie-1 location.Progress:    837m--------------------------------------Well                    Participants--------------------------------------Paralana-2              BPT*    21.00%GEL 178                 PTR     69.00%Geothermal Exploration  TRU     10.00%Arrowie Basin, SA-------------------------------------------------------Weekly Progress & Summary              Primary Targets-------------------------------------------------------Report Time: 0600 hrs (CST)22/07/2009  Upper CannanaDepth:       796m                      or Bolla BollanaOperation:   Drilling ahead.Progress:    87m---------------------------------Well                Participants---------------------------------Burnside-1ST1       BPT     7.34%WA 281P (offshore)  STO*    47.83%Gas Exploration     IBL     20.00%Browse Basin, WA    CVX     24.83%--------------------------------------------------------Weekly Progress & Summary              Primary Targets--------------------------------------------------------Report Time: 0600 hrs (WST)22/07/2009  Lower CretaceousDepth:       3823m                     sandsOperation:   Preparing to run 9 5/8"             casing.Progress:    1503m---------------------------------Well               Participants---------------------------------Psyche-6           BPT     23.20%PL 241             STO*    60.06%Gas Development    ORG     16.74%C/E Basin, QLD----------------------------------------------------------Weekly Progress & Summary              Primary Targets----------------------------------------------------------Report Time: 0600 hrs (CST)22/07/2009  Toolachee FormationDepth:       2205m (TD)Operation:   Well has been cased and             suspended as a future             Toolachee Formation gas             producer.Progress:    349m* Operator(s)  Secondary TargetsASX:BPT  Beach Petroleum LtdASX:PTR  Petratherm LtdASX:COE  Cooper EnergyASX:STO  Santos LimitedASX:ORG  Origin Energy Resources LtdCVX - Chevron Australia Pty LtdTRU - TRUenergy Pty LtdIBL - INPEX Browse, Ltd.----------------------------------------

Contact

Hector Gordon
Chief Operating Officer
TEL: +61-8-8338-2833



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