Adelaide, Jan 14, 2009 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announce the drilling report for the week ending ending 14 January, 2009 are attached. Highlights of the week's activities include:
Beach Petroleum Operated Cooper / Eromanga Exploration
Gunyah-1, the third of four back-to-back wells currently being drilled by the Joint Venture in PEL 92 / PPL 220, is drilling ahead at a depth of 2005 metres in the Kalladeina Formation. Interests in the four well program are Beach Petroleum Ltd (75%) and Cooper Energy Ltd (25%).
Cooper/Eromanga Oil Exploration and Development - Santos Operated
In areas operated by Santos, two successful wells were drilled (Spencer West-3, Beach 20.21% and Tennaperra-2, Beach 30%).
Beach Operated Offshore Australia Program - SE Australia
Fermat-1 (Beach 50%) is being plugged and abandoned, having reached a total depth of 3585 metres and failing to find any significant hydrocarbons. Interests in Fermat-1 are Beach Petroleum Ltd, 50%, Essential Petroleum Resources Ltd, 25% and Mitsui E&P Australia Pty Ltd, 25%. Note that Essential is currently in default of the December 2008 and January 2009 cash call requirements for the Fermat-1 drilling operations.
Egypt - South East July Concession - Gulf of Suez
South July-1, targeting oil in the Rudeis and Nubia Formations, is drilling ahead in the South Gharib Formation at a depth of 2416m. Interests in South July-1 are Beach Petroleum (Egypt) Pty Limited, 20%, Santos Egypt Pty Ltd, 40% and Dana Petroleum (E&P) Limited, 40%.
------------------------------------Well Participants------------------------------------ South July-1 BPT 20.00% SE July Concession STO* 40.00% Oil Exploration Well DNX 40.00% Gulf of Suez, Egypt ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600hrs (Egypt) 13/01/2009 Rudeis FormationDepth: 2416m Nubia SandstoneOperation: Drilling ahead in the South Gharib FormationProgress: 1302m ------------------------------------ Well Participants ------------------------------------ Fermat-1 BPT* 50.00% VIC/P46 EPR** 25.00% Gas Exploration MIT 25.00% Otway Basin, Vic --------------------------------------------------------------- Weekly Progress & Summary Primary Targets ---------------------------------------------------------------Report Time: 0800 (AEST) 14/01/2009 Waarre FormationDepth: 3585m MDRT (TD) Flaxman FormationOperation: Well is being plugged and abandoned. Progress: 0m ------------------------------------Well Participants------------------------------------Gunyah-1 BPT* 75.00%PEL 92 COE 25.00%Oil Exploration C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 14/01/2009 Namur SandstoneDepth: 2005m Operation: Drilling ahead in the Kalladeina FormationProgress: 2005m ------------------------------------Well Participants------------------------------------Spencer West-3 BPT 20.21%PPL 53 STO* 66.60%Oil Appraisal ORG 13.19%C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 14/01/2009 McKinlay Member Depth: 1726m (TD) Namur, Hutton (s)Operation: Well is to be cased and suspended as a future McKinlay Member and Namur Sandstone oil producer.Progress: 0m ------------------------------------Well Participants------------------------------------Tennaperra-2 BPT 30.00%PL 168 STO* 70.00%Oil Appraisal C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 14/01/2009 Hutton SandstoneDepth: 1724m (TD) Namur Sandstone (s)Operation: Well has been cased and suspended as a future multi zone oil producer. Progress: 230m ------------------------------------Well Participants ------------------------------------Kanowana-7 BPT 20.21% PPL 28 STO* 66.60% Gas Development ORG 13.19% C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (AEST) 14/01/2009 Tirrawarra SandstoneDepth: 3144m (TD) Patchawarra Fm (s)Operation: Well has been cased and suspended as a future Patchawarra Formation and Tirrawarra Sandstone gas and oil producer. Progress: 137m ------------------------------------ Well Participants ------------------------------------ Tirrawarra-77 BPT 20.21% PPL20 STO* 66.60% Gas Development ORG 13.19% C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 14/01/2009 Patchawarra FmDepth: 2100m Tirrawarra SstOperation: Drilling ahead in the Birkhead Formation.Progress: 2100m --------------------------------COAL SEAM GAS PROJECTS Location Participants--------------------------------PL 198 BPT 40%Coal Seam Develop't AOE* 60%Surat Basin, QLD --------------------------------------------------------------------Well Depth Operation: 0600hrs (EST) 14th January 2009--------------------------------------------------------------------Tipton- 146 341m Drilling production zone.
* Operator
(s) Secondary Targets
COE Cooper Energy Resources
MIT Mitsui E&P Australia
AOE Arrow Energy NL
DNX Dana Petroleum (E&P) Limited
ORG Origin Energy Resources LTD
BPT Beach Petroleum Ltd
EPR Essential Petroleum Resources Ltd
STO Santos Limited
Contact
Reg Nelson
Beach Petroleum
08 8338 2833
Mark Lindh
Adelaide Equity
0414 551 361
Ian Howarth
Farrington National
03 9223 2455
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