Drillsearch Energy Limited

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that it has reached landmark agreements with both the Wangkamurra and Kullilli Traditional Owners covering six pending Authority to Prospect exploration award block application areas in Southwest Queensland.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that today it has received A$3,490,158 including GST from Santos Ltd (ASX:STO) in full and final settlement for the sale of all of Drillsearch's crude oil inventories contained in the Jackson-Moonie Crude Oil Pipeline.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce after a global search the appointment of as Chief Geoscientist and Dr Ismail Mostafa as Chief Reservoir Engineer. John and Ismail will take up their roles in Drillsearch's Sydney office beginning in January 2011.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) wishes to advise that the requisite majority of Innamincka Petroleum Limited (ASX:INP) shareholders voting in favour of the Scheme of Arrangement was not achieved at today's Scheme Meeting. We note that 96.86% of voting shareholders supported the Scheme, with a small number of key shareholders voting against the Merger.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce the planned drilling of five exploration wells in PEL 91 in the Cooper Basin Western Flank Oil Fairway in South Australia commencing in late January-early February 2011. PEL 91 is jointly owned by Drillsearch (60%) and Beach Energy Limited (ASX:BPT) (PINK:BEPTF) (40% - operator).

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has contracted the Ensign#18 drilling rig and has agreed terms with Ensign for a firm option (expiring 21 December 2010) on its Ensign#30 drilling rig.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is providing this update on the progress of the Canunda Liquids Discovery extended production testing. Due to ongoing rains and slow progress on the retrieval (fishing) of wireline and pressure gauges from the well it has been decided by the PEL 106B joint venture - Drillsearch (50%) and Beach Energy Ltd (50% operator) - that the Canunda-1 extended production test (EPT)will recommence after a workover of the well is undertaken.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that today it received CDN $5,853,886.20 (AUD $5,871,500.70) sale proceeds in full and final settlement for the sale via a Plan of Arrangement of it's 79.37% stake in TSX.V listed Circumpacific Energy Corporation (CVE:CER) from Western Petroleum Commodities Inc (WPC).

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that Jean Moore has been appointed Company Secretary effective immediately. Jean takes over from Ian Bucknell, who has stepped down as Company Secretary to focus on his role as Chief Financial Officer of Drillsearch.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that the Supreme Court of British Columbia has issued a final order approving the previously announced Plan of Arrangement pursuant to which Western Petroleum Commodities Inc., will acquire all of the issued and outstanding common shares of Circumpacific for cash consideration of A$0.18 per share.