Beach Energy Limited

Beach Energy Limited (ASX:BPT) announces that funds from the institutional component of its fully-underwritten 1 for 8 accelerated non-renounceable pro-rata entitlement offer ("Institutional Entitlement Offer"), and the issue of convertible notes (the "Notes"), have been received. The total net amount of these funds, after allowing for costs of the raising, is $260 million, $114 million of which is from the Institutional Entitlement Offer and $146 million from the Notes.

Beach Energy Limited (ASX:BPT) advises that Senex Energy Limited (ASX:SXY), operator of the Growler oil field on the Western Flank of the Cooper/Eromanga Basin, has today announced a major reserves upgrade for the field in PEL 105/PRL15 (Beach 40%, Senex 60%).

Beach Energy Limited (ASX:BPT) has released the Monthly Drilling Report for March 2012. Australia and International.

Beach Energy Limited (ASX:BPT) is pleased to announce the successful completion of the institutional component of its fully-underwritten 1 for 8 accelerated non-renounceable pro-rata entitlement offer ("Institutional Entitlement Offer"), and that it has successfully priced A$150 million in convertible notes (the "Notes").

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) announces it is undertaking a A$345 million capital raising

Oil production has commenced from the NS377 field in Beach Energy Limited's (ASX:BPT) North Shadwan concession, with oil flowing via a tie-in to Petrobel's nearby Ras Ghara oil facility and then by pipeline to the main Petreco Oil Centre at Abu Rudeis.

Workover operations have successfully cleaned out the Encounter-1 wellbore in PEL 218 (Beach 100%). Tubing will now be installed ready for the fracture stimulation activities which are now expected to occur in early April once the fracture stimulation crew has completed a program with the Cooper Basin Joint Venture (Beach 20.21%).

Beach Energy Ltd (ASX:BPT) will join the S&P ASX 100 index from March 16, 2012.
Beach, one of Australia's leading energy exploration and production companies, was among the best performing stocks on the ASX in 2011 and has continued its strong performance in the first quarter of 2012.

Beach Energy (ASX:BPT) advises that a fourth consecutive exploration discovery, in the Abu Sennan concession in Egypt, has flowed oil, condensate and gas at a combined rate of 5,600 boepd.

Beach Energy Limited (ASX:BPT) has discovered gas, flowing at 4.5 MMscfd, and gas liquids, in its Coolawang-1 exploration well in PEL 106B on the Western Flank of the Cooper Basin.