Beach Energy Limited

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) today announced that the Beach group had completed the rapid repayment of more than A$650 million in borrowings.

New growth and operational strategies are reflected in key Board and Executive appointments announced today by Australian oil and gas producer and explorer, Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF).

Beach Petroleum Limited's (ASX:BPT)(PINK:BEPTF) Butlers-1, the third well of a planned six well oil exploration program in PEL 92 is to be cased and suspended after intersecting a 4.5 metre oil column in high quality reservoir at the top of the Namur Sandstone. Butlers-1 is the second successive oil discovery in the current drilling campaign.

Yesterday, the Australian market slumped for the third consecutive session as investors locked in gains from recent rallies. The benchmark S&P/ASX200 index was 58.4 points, or 1.47 per cent lower, at 3,904.1 points, while the broader All Ordinaries index fell 53.7 points, or 1.36 per cent, at 3,904.2 points.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 10 June 2009 are attached.

In the face of the current economic downturn, the Australian geothermal industry has experienced significant growth in the number of companies that have joined the search for "Hot-Rock Energy", fuelled by the rapidly increasing demand for renewable energy. In the nine months since the Australian geothermal industry launched the world's first Geothermal Reporting Code, six companies have reported massive geothermal energy reserves.

In the face of the current economic downturn, the Australian geothermal industry has experienced significant growth in the number of companies that have joined the search for "Hot-Rock Energy", fuelled by the rapidly increasing demand for renewable energy. In the nine months since the Australian geothermal industry launched the world's first Geothermal Reporting Code, six companies have reported massive geothermal energy reserves.

In the face of the current economic downturn, the Australian geothermal industry has experienced significant growth in the number of companies that have joined the search for "Hot-Rock Energy", fuelled by the rapidly increasing demand for renewable energy. In the nine months since the Australian geothermal industry launched the world's first Geothermal Reporting Code, six companies have reported massive geothermal energy reserves.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) advises that it has made an application to the Takeovers Panel in respect of its proposed takeover bid for Drillsearch Energy Limited (Drillsearch).

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 27 May, 2009 are attached. Highlights of the week's activities include: