Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week ending 20 January 2010
Adelaide, Jan 20, 2010 AEST (ABN Newswire) - Beach Energy Limited (
ASX:BPT) (PINK:BEPTF) is a long established oil and gas Exploration and Production Company. Based in Adelaide, South Australia, the Company has oil and gas reserves of 66 million barrels of oil equivalent (at 30 June 2009), an annual production in the 2008/09 Financial Year of 9.6 million barrels of oil equivalent and an active exploration program within a balanced global portfolio of tenements.
Beach Energy's drilling report for the week ending 20 January, 2010 is attached. Highlights of the week's activities include:
Egypt - North Shadwan Concession - Gulf of Suez
The NS 377-5 oil field development well (Beach 20%) is at a depth of 920 metres. 13 3/8 inch casing has been run and cemented and the blowout preventer is being installed.
--------------------------------------Well Participants--------------------------------------NS 377-5 BPT 20.00%Oil Development BP* 50.00%North Shadwan TOE 30.00%Egypt----------------------------------------------------Weekly Progress & Summary Primary Targets----------------------------------------------------Report Time: 0600 hrs(local)19/01/2010 Kareem FormationDepth: 920mOperation: Nippling up blowout preventer having installed 13 3/8" casing.Progress: 807m--------------------------------------Well Participants--------------------------------------Narcoonowie-10 BPT 20.21%PPL 25 STO* 66.60%Oil Development ORG 13.19%C/E Basin, SA----------------------------------------------------Weekly Progress & Summary Primary Targets----------------------------------------------------Report Time: 0600 hrs(CST)20/01/2010 Namur SandstoneDepth: 1668m (TD) Birkhead FormationOperation: Well is being cased and suspended as a future Namur Sandstone and Birkhead Formation oil producer. New pool oil discovery in mid-Namur Sandstone.Progress: 302m--------------------------------------Well Participants--------------------------------------Tickalara-24 BPT 30.00%PL 34 STO* 70.00%Oil AppraisalC/E Basin, QLD----------------------------------------------------Weekly Progress & Summary Primary Targets----------------------------------------------------Report Time: 0600 hrs(CST)20/01/2010 McKinlay MemberDepth: 1352m (TD) Namur SandstoneOperation: Well is cased and suspended as a future McKinlay Member oil producer.Progress: 1268m--------------------------------------Well Participants--------------------------------------Coonatie-17 BPT 17.14%PPL 131 STO* 72.32%Gas Development ORG 10.54%C/E Basin, SA----------------------------------------------------Weekly Progress & Summary Primary Targets----------------------------------------------------Report Time: 0600 hrs(CST)20/01/2010 multi Permian targetsDepth: 475mOperation: Drilling surface hole.Progress: 475m--------------------------------------Well Participants--------------------------------------Chi-1 BPT 30.00%Total 66 STO* 70.00%Oil ExplorationC/E Basin, Qld----------------------------------------------------Weekly Progress & Summary Primary Targets----------------------------------------------------Report Time: 0600 hrs(CST)20/01/2010 McKinlay MemberDepth: 544m Birkhead/Hutton(s)Operation: Running surface casing. Patchawarra Formation (s)Progress: 544m( * ) Operator(s) Secondary TargetsBPT Beach Energy LtdORG Origin Energy Resources LtdBP BP Exploration (Delta)TOE TriOcean EnergySTO Santos Limited
Contact
Hector Gordon
Chief Operating Officer
TEL: +61-8-8338-2833
FAX: +61-8-8338-2336
www.beachenergy.com.au
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