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Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) Chairman's address at the Annual General Meeting 2009
Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) is proposing to change its name to more accurately include its emerging role in low-emissions energy technologies and solutions, in addition to its mainstream oil and gas production in Australia's hydrocarbon provinces.
Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) successful oil well flow rates from its offshore Gulf of Suez project could produce Beach Petroleum Ltd's first international oil production in the first half of next year.
Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) is pleased to announce that it has entered into a non-binding Memorandum of Understanding (MOU) with Rentech, Inc. ("Rentech") (AMEX:RTK) a U.S.-based synthetic fuels and technology company. as a further step in relation to the commercialisation of Beach's large Cooper Basin gas resources.
Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 18 November, 2009 are attached. Highlights of the week's activities include: The upper 5.6 metres of the Namur Sandstone at Chiton-1 (PEL 91, Beach 40%) has been perforated and was flow-tested for an 80 minute period at an average rate of 2434 barrels oil and 226 barrels of water per day. The NS377-3 field development well (Beach 20%) has been cased and production testing to provide data about fluid and reservoir properties has been initiated. Evaluation of the Paralana-2 geothermal deep injector well (Beach, well Operator, earning 21%) has commenced.
Drillsearch Energy Ltd (ASX:DLS)(PINK:DRLLF) is pleased to provide this update on the development of the Chiton Oil Field. The company was advised by Beach Petroleum as operator early yesterday evening that it completed a flow test on the Chiton-1 oil discovery well.
Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 11 November. Highlights of the week's activities include: The NS377-3 field development well (Beach 20%) has been cased and the 145 metre gross vertical oil column intersected by the well is being perforated for future oil production. The Paralana-2 geothermal exploration well has reached target TD of 4012 metres and the formation evaluation program is being planned.
Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) is pleased to advise the NS377-3 oil development well (North Shadwan Development Lease, Gulf of Suez, Egypt, Beach 20%) has reached its total depth of 2,873 metres MD (1,800 metres TVD RT) after intersecting a gross oil column of 144 metres in the Kareem Formation sandstone of Miocene age. The well is the first production well on the NS377 Oilfield and was drilled as an extended reach deviated well from an onshore location.
Drillsearch Energy Ltd (ASX:DLS)(PINK:DRLLF) has taken further action to protect the interests of all shareholders in its 79.5% owned Canadian subsidiary Circumpacific Energy Corporation (CVE:CER) and in particular to protect assets held in 50/50 joint venture by Drillsearch and Circumpacific and to protect confidential information.
The following activities have been conducted by, or on behalf of, Bandanna Energy Limited (ASX:BND) and its wholly-owned subsidiaries during the three months 1 July to 30 September 2009 ("Reporting Period").