Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week ending 10 February 2010
Adelaide, Feb 10, 2010 AEST (ABN Newswire) - Beach Energy Limited (
ASX:BPT) (PINK:BEPTF) is a long established oil and gas Exploration and Production Company. Based in Adelaide, South Australia, the Company has oil and gas reserves of 66 million barrels of oil equivalent (at 30 June 2009), an annual production in the 2008/09 Financial Year of 9.6 million barrels of oil equivalent and an active exploration program within a balanced global portfolio of tenements.
Beach Energy Limited drilling report for the week ending 10 February.
Highlights of the week's activities include:
Egypt - North Shadwan Concession - Gulf of Suez
The NS377-5 oil field development well (Beach 20%) is at a depth of 2,849m(MD). The well has intersected the top of the Kareem Formation oil column 110 metres above the defined oil water contact for the field and is currently drilling ahead to programmed total depth.
--------------------------------------Well Participants--------------------------------------NS377-5 BPT 20.00%Oil Development BP* 50.00%North Shadwan TOE 30.00%Egypt--------------------------------------------------------Weekly Progress & Summary Primary Targets--------------------------------------------------------Report Time: 0600 hrs(local)09/02/2010 Kareem FormationDepth: 2849mOperation: Drilling ahead.Progress: 640m--------------------------------------Well Participants--------------------------------------Coonatie-16 BPT 17.14%PPL131 STO* 72.32%Gas Development ORG 10.54%C/E Basin, SA------------------------------------------------------Weekly Progress & Summary Primary Targets------------------------------------------------------Report Time: 0600 hrs(CST)10/02/2010 multi PermianDepth: 1132m targetsOperation: Waiting on weather after receiving heavy rains.Progress: 0m( * ) Operator(s) Secondary TargetsBPT Beach Energy LtdORG Origin Energy Resources LtdBP BP Exploration (Delta)TOE TriOcean EnergySTO Santos Limited
Contact
Hector Gordon
Chief Operating Officer
TEL: +61-8-8338-2833
FAX: +61-8-8338-2336
www.beachenergy.com.au
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