Beach Energy Limited

Beach Energy Limited (ASX:BPT) Monthly Drilling Report - September 2012, highlights include: Newbuild Ensign 965 rig spuds Marble-1, becoming second rig in Nappamerri Trough unconventional gas exploration program; Butlers oil field production and reserve estimates to increase; Snatcher-10 confirms northern extension to Snatcher Oil Field; NS 385-1 oil development well spudded in North Shadwan, Egypt.

Beach Energy Limited (ASX:BPT) has commenced its PEL 92 (Beach 75% and operator, Cooper Energy Limited 25%) joint venture approved ten well drilling program, which will consist of three development wells and seven exploration wells.

Beach Energy Limited (ASX:BPT) advises it will farm-in for a 30% stake, in Joint Venture with Melrose Resources and Petromar Resources SA, in an offshore Romanian oil and gas exploration block. The total commitment by Beach over the first three years of the Joint Venture is estimated at US$24.8 million, which will include 1,000 km2 of 3D seismic currently being acquired.

Beach Energy (ASX:BPT) (PINK:BCHEY) drilling report with monthly highlights for the period including the Halifax drill stem test flows gas from Callamurra Formation and the Bauer-8 confirming material extension to Bauer Oil Field

Beach Energy Limited (ASX:BPT) advises that, following its annual strategy and budget review process, which takes into consideration business objectives, operating performance, key strategies and more macro factors such as industry conditions, issues the following guidance in relation to financial year 2013

Record sales revenue and underlying net profit after tax (NPAT) have combined to set Beach Energy Limited (ASX:BPT) (PINK:BCHEY) up for yet another strong year, ahead of rapid growth in crude oil production and a likely major boost in natural gas resources from an expanded unconventional gas exploration program.

Beach Energy (ASX:BPT) (PINK:BCHEY) advises that it expects full year FY12 NPAT to be approximately $164 million and full year FY12 underlying NPAT to be approximately $122 million.

Drillsearch Energy Limited (ASX:DLS) announced further success as the Western Flank Oil Field Development Program continues, with the completion of the Bauer-6 development well which is being cased and suspended as a future oil producer. The PEL 91 Joint Venture consists of Drillsearch 60% and Beach Energy as Operator 40%.

Beach Energy (ASX:BPT) (PINK:BCHEY) has been advised by the operator of the SACB JV that the Moomba-191 unconventional vertical well has flowed gas at a stable rate of 2.6 MMscfd and peaked at 3.0MMscfd. This adds further credibility to Beach's unconventional program from which it will be drilling Australia's first unconventional horizontal well later in the year.

Beach Energy Limited (ASX:BPT) extended production tests of the successful exploration wells in Abu Sennan, Egypt, commenced last week. The tests will continue for 6 months and to date have yielded a combined flow rate of up to 2,524 barrels of oil per day, with associated gas