Beach Energy Limited (ASX:BPT) Monthly Drilling Report - October 2011

Adelaide, Nov 2, 2011 AEST (ABN Newswire) - Beach Energy Limited (ASX:BPT) (PINK:BEPTF) provides the following monthly drilling report for October 2011.

Beach Operated Cooper - Eromanga Oil - Western Flank

Two further appraisal wells have been drilled on the Bauer Oilfield discovery (PEL-91, Beach 40%) in the Western Flank, following the success last month of the Bauer-4 well.

The Bauer-2 and Bauer-3 wells were drilled 380 metres to the west and 300 metres south-east, respectively, from Bauer-1. The wells delineated the western and southern structural extents of the field. Both wells were cased and suspended for future oil production, after Bauer-2 intersected a 6.5 metre gross oil column (with 3 metres of highly permeable Namur Sandstone oil pay) and Bauer-3 found 10 metres of oil (with 3.5 metres of Namur oil pay).

The Ensign#30 rig has subsequently spudded the Basham-1 exploration well (also in PEL-91) targeting a seismically-defined Birkhead channel play. The well has reached a total depth of 1,979 metres and is preparing to conduct wireline logging.

Beach Operated Geothermal - Paralana Project, Arrowie Basin

The Paralana-2 (Beach 21%) geothermal well was flow tested during early October, producing fluid at rates ranging between 1 and 6 litres/sec (543 to 3260 barrels/day). After six days, the flowing bottom hole temperature was 171 degree Celsius. Brine samples were collected for geochemical analysis. Final conclusions will take several weeks to compile.

Senex (ASX:SXY) Operated Cooper-Eromanga Oil - Western Flank

An eleven-well exploration and development drilling program has commenced. At the end of the month, the first well in this campaign, Growler-6 (PRL-15, Beach 40%), was running in the hole to drill ahead to TD after cutting three cores across the Birkhead Formation reservoir.

Santos (ASX:STO) Operated Cooper Basin Oil and Gas Development

Two gas development wells (Moomba-188 and Moomba-190) were drilled in the SA sector of the Cooper Basin (Beach 20.21%), both of which were cased and suspended as future Toolachee Formation and Daralingie Formation gas producers. A gas development well, Coonaberry-3 (Beach 23.2%), was spudded in Queensland (PL 187) and is currently running surface casing.

Also in Queensland, two oil wells were drilled on the Munro Oilfield (Beach 40%), resulting in both Munro-6 and -7 being cased and suspended as future oil producers from the Hutton Sandstone.

INTERNATIONAL

Kuwait Energy Operated - Abu Sennan Concession, Egypt

El Salmiya-1 (Beach 22%) spudded on 14 October 2011 and is the third exploration well in a planned six-well program on the Abu Sennan permit. The El Salmiya location is approximately 10 km east of the Al Ahmadi-1 and ZZ-4 successes. At the time of this report, the well was drilling ahead at 2393 metres measured depth.

A second rig is preparing to spud at the Al Jahraa-1 location, the fourth exploration well of the Abu Sennan campaign. This well is located about 20 km west of Al Ahmadi-1 and ZZ-4 wells.


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http://media.abnnewswire.net/media/en/docs/ASX-BPT-185422.pdf

Contact

Corporate Reg Nelson Beach Energy Limited Tel: +61-8-8338-2833 Neil Gibbins Beach Energy Limited Tel: +61-8-8338-2833 Investor Relations Chris Jamieson Beach Energy Limited Tel: +61-8-8338-2833 Email: info@beachenergy.com.au http://www.beachenergy.com.au