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Adelaide, Oct 1, 2008 (ABN Newswire) - Beach Petroleum Limited Weekly Drilling Report Week ending 01 October 2008

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announce the drilling report for the week ending 1 October, 2008 are attached. Highlights of the week's activities include:

The drilling report and well location map for the week ending 1 October, 2008 are attached. Highlights of the week's activities include:

Cooper/Eromanga Oil

- In areas operated by Santos, one well has been successful (Illiad-1, Beach 30.00%) and one well is in progress
----------------------------
Well            Participants
----------------------------
Big Lake-90     BPT     20.21%
PPL 11          STO*    66.60%
Gas Development ORG     13.19%
C/E Basin, SA                 
---------------------------------------------------------------
Weekly Progress & Summary                       Primary Targets
---------------------------------------------------------------
Report Time:    0600 hrs (CST) 30/09/2008       Patchawarra Fm
Depth:          2552m                           Tirrawarra Sst (s)
Operation:      Pulling out of hole for bit change.          
Progress:       1028m                                                   


----------------------------
Well            Participants
----------------------------
Munkah-12       BPT     23.20%
PL 60           STO*    60.06%
Gas Development ORG     16.74%
C/E Basin, QLD                
---------------------------------------------------------------
Weekly Progress & Summary                       Primary Targets
---------------------------------------------------------------
Report Time:    0600 hrs (CST) 30/09/2008       Patchawarra Fm
Depth:          1165m                   
Operation:      Drilling ahead in Wallumbilla Formation.
Progress:       1165m                   


----------------------------
Well            Participants
----------------------------
Jackson South-15BPT     38.50%
PL 24           STO*    55.50%
Oil Development IOR     2.00% 
                              
C/E Basin, Qld  DLS     2.00% 
                AGF     2.00% 
---------------------------------------------------------------
Weekly Progress & Summary                       Primary Targets
---------------------------------------------------------------
Report Time:    0600 hrs (CST) 30/09/2008       Westbourne Fm
Depth:          1081m                           Mid  Birkhead Fm \
Operation:      Pulling out of hole 
                for bit change.                 Hutton Sst 
Progress:       1081m                   


----------------------------
Well            Participants
----------------------------
Iliad-5         BPT     30.00%  
PL 34           STO*    70.00%  
Oil Appraisal                   
C/E Basin, Qld                     
---------------------------------------------------------------
Weekly Progress & Summary                       Primary Targets
---------------------------------------------------------------
Report Time:    0600 hrs (CST) 30/09/2008       Murta Fm
Depth:          1338m (TD)                      McKinlay  Mem (s)
Operation:      Well is cased and suspended 
                as a future Murta Formation                     
                and Mckinlay  Member oil producer.
Progress:       1338m                   

--------------------------------
COAL SEAM GAS PROJECTS          
Location            Participants
--------------------------------
Pl 198              BPT 40%        
Coal Seam Develop't AOE* 60%       
Surat  Basin, QLD                  
                                   
--------------------------------------------------------------------
Well         Depth       Operation: 0600hrs (EST) 1st October 2008 
--------------------------------------------------------------------
Tipton - 137 545m (TD)   Completed as a producer.            
Tipton - 147 600m        Mechanical standby.         

* Operator
(s)  Secondary Targets    AOE  Arrow Energy NL
BPT  Beach Petroleum Ltd  ORG  Origin Energy Resources LTD
STO  Santos Limited       AGF  Australian Gas Fields LTD  
DLS  Drillsearch Energy   IOR  Inland Oil Resources       


About BEACH PETROLEUM LIMITED

Beach Petroleum (ASX: BPT) is a long established oil and gas Exploration and Production Company. Based in Adelaide, South Australia, the Company has Oil and gas reserves of 90 million barrels of oil equivalent (at 30 June 2007), an Annual Oil Production in the 2006/07 Financial Year of 9.4 million barrels and an active drilling program within a well balanced portfolio of tenements.


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