Beach Energy Limited

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) announce, as noted in the Company's Weekly Drilling Report, released 17 March 2010, heavy regional rainfall and subsequent flood conditions in the Cooper-Eromanga Basin have resulted in the suspension of drilling operations until the mid April to mid May timeframe.

ABN Newswire stocks to watch today include: Iron Road Limited (ASX:IRD), Galaxy Resources Limited (ASX:GXY) (PINK:GALXF), AusTex Oil Limited (ASX:AOK), Beach Energy Limited (ASX:BPT) (PINK:BEPTF), Kairiki Energy Limited (ASX:KIK) (PINK:KAIRF), Magnetic Resources NL (ASX:MAU) and Pluton Resources Limited (ASX:PLV).

The potential for the oil and gas fields of South Australia's Cooper Basin to produce "bio fuels" and "bio oils" through special land farming techniques which absorb waste CO2, is to be the subject of a study by a new Australian-United States alliance announced today. Beach Energy Limited (ASX:BPT) (PINK:BEPTF) and San Diego-based environmental, energy and defence technologist, General Atomics are to examine the bio fuels and bio oils production option.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) drilling report for the week ending 3 March, 2010. Highlights of the week's activities include: The Nafta-1 rig has been released from the NS377-5 oil field development well location. Temperature measurements have been undertaken at the Paralana-2 geothermal well. Drilling Operations in the Cooper/Eromanga remain suspended following the heavy rainfalls in the basin.

ABN Newswire stocks to watch today include: Pike River Coal Limited (NZE:PRC) (PINK:PKRRF), Beach Energy Limited (ASX:BPT) (PINK:BEPTF), FerrAus Limited (ASX:FRS) (PINK:FRRAF), Republic Gold Limited (ASX:RAU), Galaxy Resources Limited (ASX:GXY) (PINK:GALXF) and Mission NewEnergy Limited (ASX:MBT) (PINK:MIBFF).

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) drilling report for the week ending 24 February, 2010. Highlights of the week's activities include: The reservoir interval of the NS377-5 oil field development well (Beach 20%) has been perforated and an Electric Submersible Pump (ESP) is being installed. Drilling Operations in the Cooper/Eromanga remain suspended following the heavy rainfalls in the basin.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has posted a robust first half underlying profit of A$25.5 million, down 50 per cent from the previous corresponding period earnings of A$50.7 million.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) Weekly Drilling Report Week ending 17 February 2010 Highlights of the week's activities include:

ABN Newswire tocks to watch today include: Galaxy Resources Limited (ASX:GXY) (PINK:GALXF), Environmental Clean Technologies Limited (ASX:ESI), Republic Gold Limited (ASX:RAU), Conquest Mining Limited (ASX:CQT) (PINK:CQMLF), Beach Energy Limited (ASX:BPT) (PINK:BEPTF), AusTex Oil Limited (ASX:AOK) (PINK:ATXDF) and Otto Energy Limited (ASX:OEL).

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) advises the NS377-5 oil development well (North Shadwan Development Lease, Gulf of Suez, Egypt, Beach 20%) has reached a total depth of 2909m MD (-1767m TVD SS) after intersecting a gross oil column of 107m in the Kareem Formation sandstone of Miocene age. The well was drilled as an extended reach deviated well from an onshore location. This will enable rapid completion and connection of the well to onshore production facilities.