Beach Energy Limited

Beach Petroleum (ASX:BPT)(PINK:BEPTF) has completed a placement of shares to institutional and sophisticated investors, raising A$191 million for the Company's ongoing expansion.

Beach Petroleum (ASX:BPT)(PINK:BEPTF) has completed a placement of shares to institutional and sophisticated investors, raising A$191 million.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) Weekly Drilling Report Week ending 4 June 2008. Highlights of the week's activities

The primary focus of the initiative is a A$190 million placement to fully fund Beach's previously announced proposed acquisitions in Egypt and other identified opportunities now under review.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) reports that it has entered into an agreement with Tri-Ocean Energy Company under which, subject to the approval of the Government of the Arab Republic of Egypt, Beach will acquire a 20% interest in the North Shadwan Concession in the Gulf of Suez at a cost of US$110 million.

May is proving to be a very successful month for Beach Petroleum (ASX:BPT)(PINK:BEPTF), on several fronts. The Cooper/Eromanga oil program has been successful at both Bodalla South-19 and Bodalla South-20 (Beach 100% interest in both wells) and in Santos-operated wells Cook-14 (Beach 20%) and Bindah-2 (Beach 20.21%).

Beach Petroleum Limited (ASX: BPT)(PINK: BEPTF) reports that it has entered into an agreement with Santos Egypt Pty Ltd under which, subject to waiver of pre-emptive rights by the Egyptian General Petroleum Corporation and the approval of the Government of the Arab Republic of Egypt, Beach will acquire, via a farmin arrangement, a 20% interest in the South East July concession, in the Gulf of Suez, offshore Egypt.

A groundbreaking youth program in the remote communities of western South Australia is promising to become a model for resources companies wanting to genuinely "connect" with their Indigenous neighbours.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) Weekly Drilling Report Week ending 14 May 2008

Australian top four energy company, Beach Petroleum Limited (ASX: BPT)(PINK:BEPTF) is eyeing its first move into Africa's oil and gas sector.