Beach Energy Limited

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) advises the Holdfast-1 shale well in the Cooper Basin is currently flowing gas and some steam during ongoing clean up. The Holdfast-1 well is located within the PEL 218 tenement (Beach 90%), which covers an area of 1,600km2 in the centre of the Nappamerri Trough of the Cooper Basin.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) is please to release monthly drilling report ended July 6 2011.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) is please to announce that the PEL 92 Joint Venture has approved the work program and budget for an aggressive exploration campaign for the twelve month period to June 2012. The program includes nine exploration wells and both 3D and 2D seismic.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) are pleased to advise that with the support of the Commonwealth Bank of Australia ("CBA") it has today replaced its A$35 million working capital facility with a A$150 million revolving corporate credit facility.

Drillsearch Energy Ltd (ASX:DLS) (PINK:DRLLF) is pleased to announce that following its second success in the Western Flank Oil Fairway drilling program with the discovery of oil at Snellings-1 that Arno-1, the third well in the five well program spudded at 23:00hrs, Thursday 30 June 2011. Drillsearch holds a 60% interest in PEL 91 while Beach Energy Limited (ASX:BPT) (PINK:BEPTF) as operator holds 40%. To date, Drillsearch has drilled two new oil discoveries on the first two oil exploration wells - Hanson-1 and Snellings-1 as part of the 5-well Western Flank Oil exploration program.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) had its fifth success in its PEL 92 drilling program with two wells remaining to be drilled. The Parsons-5 well, located 1.3km south of the Parsons-1 discovery well, encountered a six metre oil column.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has completed the fracture stimulation of Holdfast-1 with the various selected target zones fracturing in line with expectations. The program was designed to be experimental, with the objectives set out below. However, the volume of fluid and proppant injected and the extent and apparent orientation of the fracturing is considered most encouraging.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has generated a further profit of A$3.3 million to June 2011, (after brokerage) from the sale of its entire shareholding in Ramelius Resources Limited (ASX:RMS). This profit is in addition to a A$13.6 million profit realised from the mark to market of the investment for the six months to December 2010.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that Beach Energy Limited (ASX:BPT) (PINK:BEPTF) as the Operator of PEL 91 has advised that the Snellings-1 exploration well is a new oil field discovery in the Western Flank Oil Fairway. Snellings-1 is the second well and second discovery in the current five well exploration drilling campaign in PEL 91. The PEL 91 Joint Venture is Drillsearch 60% and Beach Energy Ltd 40% as operator.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) advises that the flow stimulation of Holdfast-1 commenced over the weekend.