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Adelaide Energy Limited

ASX:ADE ISIN:AU000000ADE9

May 26, 2012

OVERVIEW | NEWS | MULTIMEDIA | RESEARCH

Adelaide Energy Limited Company Summary

Adelaide Energy Limited (ASX:ADE) is an oil and gas exploration and production company with a focus on the Cooper and Otway Basins of South Australia.

ADE is the dominant player in the onshore Otway Basin in South Australia, with existing gas production assets, a development program and substantial exploration acreage.

ADE hold exploration acreage in the Cooper and Maryborough Basins of South Australia and Queensland respectively which are prospective for large gas resources.

DIRECTORS / OFFICERS

Carl Dorsch - BSc, BE, CEng, FIChemE Managing Director Carl Dorsch is a Chartered Chemical Engineer with a career in oil, gas and other mining projects in Australia and overseas. He has 25 years experience in the hydrocarbon sector having been involved in drilling, completion and production operations. Over the last 5 years he has secured hardrock interests in Australia as Managing Director of Dorsch Resources Pty Ltd and is currently a Director of Primary Resources Ltd (an ASX listed minerals exploration company with a particular focus on gold, copper, nickel and uranium).
Neville Martin - LLB Chairman Neville Martin is a partner with the law firm Minter Ellison in Adelaide, and has 35 years experience in corporate law and mining oil and gas law. He is a former director of Stuart Petroleum Limited and former State President of the Australian Mining & Petroleum Law Association. He is currently a director of Austin Exploration Limited (an oil and gas exploration company listed on the ASX).
Roderic Hollingsworth - BSc (Hons), FAIE Non-Executive Director Rod Hollingsworth is a geophysicist with extensive experience in minerals and oil and gas exploration. He was the Exploration Manager for Delhi Petroleum Pty Ltd during the period of major discoveries in the Cooper Basin, and has consulted to Santos Ltd and other oil and gas explorers. He was the Executive Director and Director of Operations of Stuart Petroleum Limited from 1999 to 2003. Rod is presently the Non Executive Chairman of Primary Resources Limited, Fall River Resources Limited (a Canadian listed petroleum exploration and production company) and is Chairman of Eagles Camp Mining (a private minerals exploration group). He is a Fellow of the Australian Institute of Energy and a member of the Australian Society of Exploration Geophysicists and the Petroleum Society of Australia.
Peter Hunt - FCA Non-Executive Director Peter Hunt is the Managing Partner of PKF Adelaide, Chartered Accountants. He is a Fellow of the Institute of Chartered Accountants in Australia. Mr Hunt is currently Chairman of Intermin Resources Limited, a Non- Executive Director of Primary Resources Limited and was a director of Greater Pacific Gold NL during 2004–2005.

ANNUAL REPORT

PRESENTATIONS

COMPANY DATA

	Headquarters	Level 5, 70 Pirie Street

		(GPO Box 93)

		Adelaide SA 5001

	Telephone	+61-8-8228-5207

	Fax	+61-8-8223-3235

	Managing Director	Carl Dorsch

	Principal Sector	Energy

	Principal Industry	Energy

	Homepage	www.adelaideenergy.com.au/

Key Developments: Adelaide Energy Limited

	Adelaide Energy (ASX:ADE) Directors Unanimously Recommend Beach Energy Limited (ASX:BPT) Offer NOV 18, 2011 09:16 - Article Views: 754 Beach Energy Limited (ASX:BPT) (PINK:BEPTF) announced on Monday, 7 November 2011, an unconditional, on-market, cash offer of 20 cents per share ("Offer") for all of the issued and outstanding ordinary shares of Adelaide Energy Limited (ASX: ADE, "Adelaide Energy") it did not own. On Thursday, 10 November 2011, Beach gained majority control of Adelaide Energy and has since increased its relevant interest in Adelaide Energy to 71.46 percent.

	Beach Energy Limited (ASX:BPT) Increases Relevant Interest In Adelaide Energy (ASX:ADE) To Greater Than 65% NOV 17, 2011 11:02 - Article Views: 690 Beach Energy Limited (ASX:BPT) (PINK:BEPTF) announced on Monday, 7 November 2011, an unconditional, on-market, cash offer of 20 cents per share for all of the issued and outstanding ordinary shares of Adelaide Energy Limited (ASX:ADE) it did not own. On Thursday, 10 November 2011, Beach gained majority control of Adelaide Energy and has since increased its relevant interest in Adelaide Energy to 65.53 percent.

	Beach Energy Limited (ASX:BPT) Requisitions Meeting To Remove Adelaide Energy (ASX:ADE) Board NOV 14, 2011 09:57 - Article Views: 777 Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has requested that Adelaide Energy Limited (ASX:ADE) call a general meeting, under section 249D of the Corporations Act, 2001, at which it is expected that Adelaide Energy shareholders will remove all of the Adelaide Energy board members.

	Beach Energy Limited (ASX:BPT) Increased Relevant Interest in Adelaide Energy (ASX:ADE) to 60.93% NOV 14, 2011 09:04 - Article Views: 692 Beach Energy Limited (ASX:BPT) (PINK:BEPTF) advises it has increased its relevant interest in Adelaide Energy Limited (ASX:ADE) to 60.93%, as a result of continued on-market acceptances by Adelaide Energy shareholders.

	Beach Energy Limited (ASX:BPT) Holds Relevant Interest of 55.31 Percent in Adelaide Energy Limited (ASX:ADE) NOV 11, 2011 09:34 - Article Views: 741 Beach Energy Limited (ASX:BPT) (PINK:BEPTF) achieves its primary goal of majority control in its takeover offer for Adelaide Energy Limited (ASX:ADE) and now has a relevant interest of 55.31%.

	Beach Energy Limited (ASX:BPT) Increased Relevant Interest in Adelaide Energy (ASX:ADE) to 48.36% NOV 9, 2011 08:49 - Article Views: 632 Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has increased its relevant interest in Adelaide Energy to 48.36%, as a result of strong acceptances by Adelaide Energy Limited (ASX:ADE) shareholders of the Beach takeover offer.

	Beach Energy Limited (ASX:BPT) Holds a Relevant Interest of 44.23 Percent in Adelaide Energy Limited (ASX:ADE) NOV 8, 2011 09:00 - Article Views: 601 Beach Energy Ltd (ASX:BPT) (PINK:BEPTF) announced an unconditional on-market cash offer of 20 cents per share ("Offer") for all of the issued and outstanding ordinary shares of Adelaide Energy Limited (ASX:ADE) ("Adelaide Energy") it did not own. Prior to the offer Beach had a relevant interest in the ordinary shares of Adelaide Energy of 19.95 percent, and at the close of trade today had increased its relevant interest to 44.23 percent.

	Beach Energy Limited (ASX:BPT) Launches Unconditional Cash Takeover for Adelaide Energy (ASX:ADE) NOV 7, 2011 08:51 - Article Views: 942 Beach Energy Ltd (ASX:BPT) (PINK:BEPTF) ("Beach") announces an unconditional on-market cash offer of 20 cents per share ("Offer") for all of the issued and outstanding ordinary shares of Adelaide Energy Ltd (ASX:ADE) ("Adelaide Energy") that it does not already own. Beach currently owns 19.95% of Adelaide Energy.

	Austin Exploration Limited (ASX:AKK) Commences Preparations for Oil Drilling at Cooper Basin Project OCT 20, 2011 09:59 - Article Views: 747 Austin Exploration Limited (ASX:AKK) is pleased to inform shareholders that preparations are underway for the start of the oil drilling program on the highly-prospective Cooper Basin PEL 105 licence area in South Australia.

	Beach Energy Limited (ASX:BPT) Secures Rigs for Shale Gas Play in Cooper Basin AUG 29, 2011 09:38 - Article Views: 1,252 Beach Energy Limited (ASX:BPT) (PINK:BEPTF) advises it has secured two Ensign Australia Pty Ltd ("Ensign") rigs, Ensign#65 and Ensign#16, to drill both horizontal and vertical wells targeting its unconventional gas play in the Nappamerri Trough of the Cooper Basin. From recent drilling results, it is clear that the target zone in PEL 218 (Beach 90%) goes beyond shale and incorporates other lithologies that are also gas saturated. Beach believes, that in addition to the substantial shale gas potential, it is now dealing with an unconventional basin centred gas play.