Beach Energy Limited

Beach Energy Limited (ASX:BPT) is pleased to announce that Mr Reg Nelson, Beach Managing Director, has extended his employment contract until 30 June 2014. There is provision for the contract to be extended by mutual agreement for a further period of a year beyond 2014.

Beach Energy Limited (ASX:BPT) has been informed by Santos (ASX:STO), the operator of the Tantanna to Moomba oil pipeline, that Santos plans to permanently shut down the Tantanna to Gidgealpa oil pipeline on 1 June 2012. The new Lycium Hub to Moomba trunkline, which will replace the Tantanna pipeline and have an increased capacity of 15,000 bopd, is expected to be operational in Q4 2012

Beach Energy Limited (ASX:BPT), as a majority shareholder of Somerton, advises that it will accept the off-market takeover offer by Cooper for Somerton in the absence of a higher offer.

Beach Energy Limited (ASX:BPT) notes the report published today by Dow Jones in reference to comments by its Chairman Mr Bob Kennedy and wishes to make the following clarification.

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

Beach Energy Limited (ASX:BPT) is pleased to provide its Quarterly Activity Report for the quarter ended 31 March 2012.

Beach Energy Limited (ASX:BPT) advises that, following the successful single-stage fracture stimulation earlier this week targeting the Patchawarra Formation, the Encounter-1 well has cleaned up sufficiently to flow through a separator at a rate in excess of 500,000 scfd. This flow is expected to improve as the well is further opened up and with the reduction of stimulation fluid over the coming days

Beach Energy Limited (ASX:BPT) is pleased to announce the completion of the retail component of its fully-underwritten 1 for 8 accelerated non-renounceable pro-rata entitlement offer ("Retail Entitlement Offer"). The Retail Entitlement Offer closed at 5.00pm (Adelaide time) on 20 April 2012 and raised a total of A$78.7 million.

Beach Energy Limited (ASX:BPT) advises that the Moonta-1 shale and basin centred gas well has reached total depth of 3,810 metres yesterday. Beach is greatly encouraged by initial indications from mud logs that the well is gas saturated throughout the Permian target zone, from the Toolachee Formation to basement at the bottom of the Patchawarra Formation. This covers multiple intervals over a total target zone of greater than one kilometre.

Beach Energy Limited (ASX:BPT), as a majority shareholder of Somerton Energy, is considering its position in relation to the off-market takeover bid by Cooper Energy for Somerton Energy announced today. The offer price represents 21.8 cents per Somerton share for an all shares offer, and 21.9 cents per share for the shares and cash alternative and values Somerton at approximately $31.5 million.