Santos Limited

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) drilling report for the week ending 3 February, 2010. Highlights of the week's activities include: The NS 377-5 oil field development well (Beach 20%) is at a depth of 2209m(MD).

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) is pleased to provide a drilling report for the week ending 27 January, 2010. Highlights of the week's activities include: The NS 377-5 oil field development well (Beach 20%) is drilling ahead at a depth of 2011m(MD).

Australian sharemarket dropped on Thursday due to concerns that China's bank lending halt may hit the global economy recovery. Chinese government data showed that GDP increased by 8.7 per cent in 2009 but inflation surged towards the end of the year. The results fuelled the expectations that China will introduce more measures to slow inflation. At the close on Thursday, the benchmark S&P/ASX200 index was down 41 points, or 0.8 per cent, at 4827.2, while the broader All Ordinaries index lost 45.8 points, or 0.9 per cent, to 4849.6.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) drilling report for the week ending 20 January, 2010 is attached. Highlights of the week's activities include: The NS 377-5 oil field development well (Beach 20%) is at a depth of 920 metres. 13 3/8 inch casing has been run and cemented and the blowout preventer is being installed.

The Nafta-1 rig has been moved to the NS 377-5 oil development well drill location (Beach 20%). NS 377-5 is designed to access oil in the Kareem Formation updip and to the north of the recently drilled and successful NS 377-3 oil development well. As with the NS377-3 well, NS 377-5 will be a high angle, deviated well, drilled from an onshore location. The well is expected to spud early next week.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) drilling report for the week ending 23 December. Highlights of the week's activities include: Oil development wells Narcoonowie-8 (Beach 20,21%) and Tickalara-21 (Beach 30%) were cased and suspended as successful oil wells during the week.

The Australian share market posted a strong gain boosted by banks and miners on Tuesday after good lead from European markets and Wall Street. At the close, the benchmark S&P/ASX200 index was up 69.1 points, or 1.49 per cent, at 4704.2 points, while the broader All Ordinaries index surged 64.9 points, or 1.39 per cent, to 4724.4.

Beach Energy Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 16 December, 2009 are attached. Highlights of the week's activities include: Paralana-2 (GEL 178) has been successfully cased and cemented to a depth of 3725 metres and the rig was released on 12 December.

The Australian market declined for a fifth consecutive session on Thursday, even after a stronger-than-expected labour force report. The falls were led by resources shares and consumer discretionary. At the close, the benchmark S&P/ASX200 index dropped 31.2 points, or 0.7 per cent, at 4606.7 points, while the broader All Ordinaries index lost 29.7 points, or 0.6 per cent, to 4622.9 points.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 9 December. Highlights of the week's activities include: The running of the 7" casing string at Paralana-2 (GEL 178) has commenced. Well completion and rig release is expected to occur in mid to late December 2009.