Beach Energy Limited

Beach Petroleum Ltd advises that it has entered into an agreement with Sunshine Gas Ltd in relation to ATP 768P, in the Surat-Bowen Basin of eastern Queensland. Under the agreement Beach has the option to earn a 50% interest in the tenement by contributing to the cost of the drilling of a gas exploration well within the Champagne Creek Field and by reimbursing Sunshine for a portion of previous exploration costs incurred in ATP 768P.

Beach Petroleum advises that DST 1 conducted yesterday over the uppermost Namur
Sandstone interval 1354 - 1358 metres resulted in a flow of oil to surface in
35 minutes. The final rate was 859 barrels of oil/day accompanied by water at a rate of 340 barrels/day. The stabilised flowing pressure was 125psi through a 1/4 inch surface choke.

An 80% take-up by converting option holders in Beach Petroleum Limited has boosted the mid tier oil and gas producer's cash-in-bank by more than A$38 million.

Beach Petroleum Limited (ASX: BPT) is widening its exposure to offshore gas exploration in Australia by significantly increasing its stake, via farm-in, in acreage in far west Victoria.

One of the strongest gas flows recorded in the Cooper Basin area of South Australia has been achieved overnight on a new wildcat well drilled by Beach Petroleum Limited (ASX: BPT) and its joint venture partner, Great Artesian Oil and Gas Limited.

A more than trebling in first half net profit to A$31.2 million has been announced by ASX-listed oil and gas producer and explorer, Beach Petroleum Limited ("Beach") (ASX: BPT) for the six months to 31 December 2005.

Beach Petroleum Limited (ASX: BPT) is pleased to report that it has contracted Hunt Energy Rig #2 to conduct a drilling program of up to 12 wells in the Cooper/Eromanga Basin of south-west Queensland.

Ongoing high oil prices and its increasingly diverse production platform have generated a record opening half operational performance to 2006-2007 for mid-tier producer and explorer, Beach Petroleum Limited (ASX: BPT).

Beach Petroleum Limited (ASX: BPT) has announced the maiden sale of oil from the Company's first offshore production.

Beach Petroleum Limited (ASX: BPT) has set as a target annual production of three million barrels of oil within 18 months as the oil and gas producer and explorer ramps up its exploration and production operations across Australia.