Press Releases

Brisbane, Jan 7, 2010 (ABN Newswire) - Beach Energy Limited (ASX:BPT) advise the weekly drilling report for the week ending 6 January 2010.

Highlights of the week's activities include Egypt - North Shadwan Concession - Gulf of Suez

The Nafta-1 rig has been moved to the NS 377-5 oil development well drill location (Beach 20%).

NS 377-5 is designed to access oil in the Kareem Formation updip and to the north of the recently drilled and successful NS 377-3 oil development well.

As with the NS377-3 well, NS 377-5 will be a high angle, deviated well, drilled from an onshore location. The well is expected to spud early next week.

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Well                    Participants
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NS 377-5                BPT     20.00%
Oil Development         BP*     50.00%
North Shadwan           TOE     30.00%
Egypt
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Weekly Progress & Summary           Primary Targets
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Report Time: 0600 hrs (local)
             5/01/2010              Kareem Formation
Depth:       0m
Operation:   Rigging up in preparation for drilling.
Progress:    0m 

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Well                    Participants
--------------------------------------
Mettika-6               BPT     20.21%
PPL 58                  STO*    66.60%
Gas Development         ORG     13.19% 
C/E Basin, SA
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Weekly Progress & Summary            Primary Targets
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Report Time: 0600 hrs (CST)
             6/01/2010              Patchawarra Formation
Depth:       2579m (TD)
Operation:   Well is being cased and
             suspended as a future
             Patchawarra Formation gas producer.
Progress:    2579m

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Well                    Participants
--------------------------------------
Narcoonowie-9           BPT     20.21%
PPL 25                  STO*    66.60%
Oil Development         ORG     13.19%
C/E Basin, SA
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Weekly Progress & Summary            Primary Targets
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Report Time: 0600 hrs (CST) 
             6/01/2010              Birkhead Formation
Depth:       1718m (TD)             Hutton Sandstone
Operation:   Rig has been released
             after running casing.
Progress:    1718m

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Well                    Participants
--------------------------------------
Tickalara-22            BPT     30.00%
PL 34                   STO*    70.00%
Oil Development
C/E Basin, QLD
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Weekly Progress & Summary           Primary Targets
-------------------------------------------------------
Report Time: 0600 hrs (CST)
             6/01/2010              McKinlay Member
Depth:       1346m (TD)             Namur Sandstone
Operation:   Well is cased and suspended
             as a future McKinlay
             Member oil producer.
Progress:    1193m

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Well                    Participants
--------------------------------------
Tickalara-23            BPT     30.00%
PL 34                   STO*    70.00%
Oil Development
C/E Basin, QLD
-------------------------------------------------------
Weekly Progress & Summary              Primary Targets
-------------------------------------------------------
Report Time: 0600 hrs (CST) 
             6/01/2010              McKinlay Member
Depth:       1650m (TD)             Namur Sandstone
Operation:   Well is being cased and
             suspended as a future McKinlay
             Member and Namur Sandstone oil producer.
Progress:    1650m                   

s Secondary Targets
* Operator
(ASX:BPT) Beach Energy Ltd
(LON:BP) BP Exploration (Delta)
(ASX:STO) Santos Limited
(ASX:ORG) Origin Energy Resources Ltd
TOE TriOcean Energy

Contact

Hector Gordon Chief Operating Officer TEL: +61-8-8338-2833