Press Releases

Adelaide, Jan 20, 2010 (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's drilling report for the week ending 20 January, 2010 is attached. Highlights of the week's activities include:

Egypt - North Shadwan Concession - Gulf of Suez

The NS 377-5 oil field development well (Beach 20%) is at a depth of 920 metres. 13 3/8 inch casing has been run and cemented and the blowout preventer is being installed.

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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)19/01/2010 Kareem Formation
Depth:       920m
Operation:   Nippling up blowout preventer
             having installed 13 3/8" casing.
Progress:    807m

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Well                    Participants
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Narcoonowie-10          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)20/01/2010  Namur Sandstone
Depth:       1668m (TD)               Birkhead Formation
Operation:   Well is being cased and suspended
             as a future Namur Sandstone and Birkhead
             Formation oil producer. New pool oil
             discovery in mid-Namur Sandstone.
Progress:    302m

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Well                    Participants
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Tickalara-24            BPT     30.00%
PL 34                   STO*    70.00%
Oil Appraisal
C/E Basin, QLD
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Weekly Progress & Summary             Primary Targets
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Report Time: 0600 hrs(CST)20/01/2010  McKinlay Member
Depth:       1352m (TD)               Namur Sandstone
Operation:   Well is cased and suspended as
             a future McKinlay Member oil producer.
Progress:    1268m

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Well                    Participants
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Coonatie-17             BPT     17.14%
PPL 131                 STO*    72.32%
Gas Development         ORG     10.54%
C/E Basin, SA
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Weekly Progress & Summary             Primary Targets
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Report Time: 0600 hrs(CST)20/01/2010  multi Permian targets
Depth:       475m
Operation:   Drilling surface hole.
Progress:    475m

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Well                    Participants
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Chi-1                   BPT     30.00%
Total 66                STO*    70.00%
Oil Exploration
C/E Basin, Qld
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Weekly Progress & Summary             Primary Targets
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Report Time: 0600 hrs(CST)20/01/2010   McKinlay Member
Depth:       544m                      Birkhead/Hutton(s)
Operation:   Running surface casing.   Patchawarra Formation (s)
Progress:    544m

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

Contact

Hector Gordon Chief Operating Officer TEL: +61-8-8338-2833 FAX: +61-8-8338-2336 www.beachenergy.com.au