Beach Energy Limited

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) reports that the Wakefield-1 exploration well in PEL 218 (Cooper Basin, South Australia) has encountered oil and gas shows at multiple levels and has been cased and suspended pending further evaluation.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 23 September, 2009 are attached. Highlights of the week's activities include: Wakefield-1 (Beach 23.33% in Post Permian JV), targeting oil in the Namur and Hutton Sandstones, has reached total depth at 2298 metres in the Nappamerri Formation and is preparing to run wireline logs. The NS 394-3 [Burtocal North] offshore oil exploration well (Beach 20%) has reached a depth of 1315 metres and is running intermediate casing.

Drillsearch Energy Ltd (ASX:DLS)(PINK:DRLLF) is pleased to announce that operations have commenced to complete the Chiton-1 Oil Discovery well as a future producer. Drillsearch announced the Chiton Oil Discovery on 17 August 2009 and following completion of the drilling operations Chiton-1 was cased and suspended as a future oil producer.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 16 September 2009, highlights of the week's activities include: Spikey Beach-1 (Beach 80% in Spikey Beach Farmout Blocks) targeting oil in the Upper Eastern View Group reached final total depth of 2100m MDRT on 14 September. The NS 394-3 [Burtocal North] offshore oil exploration well (Beach 20%) is drilling ahead at a depth of 672 metres after spudding on 14 September. Wakefield-1 (Beach 23.33% in Post Permian JV), targeting oil in the Namur and Hutton Sandstones, spudded Thursday 10 September.

Drillsearch Energy Ltd (ASX:DLS)(PINK:DRLLF) wishes to advise that non-executive director, Peter Wicks has resigned from the Board with effect as of today. The Board wishes to thank Peter for his contributions over the last several months and especially in connection with the Company's defence of the takeover bid by Beach Petroleum Ltd which ended on 14 August 2009.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 9 September, highlights of the week's activities include: Wakefield-1 (Beach 23.33% in Post Permian JV), targeting oil in the Namur and Hutton Sandstones is expected to spud Thursday 10 September. Spikey Beach-1 (Beach earning 80% in Spikey Beach Farmout Blocks) spudded on 5 September and is currently at a depth of 816 metres. The Comet drilling rig is being jacked up over the NS394-3 [Burtocal North] oil exploration well (Beach 20%) location.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 12 August, 2009. Highlights of the week's activities include: Marino-1 (PEL 91, Beach 40%) has been plugged and abandoned and the rig has been released. Basker-7 (Beach 30%) has been cased and completed as a Latrobe Group oil producer. The Ocean Patriot semi-submersible drilling rig is expected to be released to Beach for the drilling of the Spikey Beach-1 exploration well in T/38P, in the Bass Basin, offshore Tasmania, later today. The Comet Jack-up rig has moved onto the NS394-3 (Burtocal North) oil exploration well location (Beach 20%) in the Gulf of Suez.

Drillsearch Energy Limited (ASX:DLS)(PNK:DRLLF) is pleased to provide this drilling update for the Marino-1 well. Following evaluation of the results from the drillstem test the joint venture has reached the conclusion that the Birkhead oil reservoir as penetrated in Marino-1 is too tight to produce oil at a commercial rate. Marino-1 will therefore be plugged and abandoned as a sub-commercial oil discovery.

Drillsearch Energy Limited (ASX:DLS)(PINK:DRLLF) is pleased to provide this drilling update for the Marino-1 well. Marino-1 reached a total depth of 1941m at 16:30hrs CST on Friday 28 August. Wireline logs were run on Saturday 29 August and provided inconclusive results over the Birkhead zone that had exhibited oil shows while drilling. This is not an uncommon outcome for tight Birkhead reservoirs.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) has posted record financial results in the year to June 30 with higher oil and gas sales revenue boosted by asset sales to generate total revenue for the year of close to A$1 billion. The sale of the Tipton West coal seam gas asset in a deal worth A$400 million has allowed Beach to repay all corporate debt and end the year with cash on hand of A$136.2 million.