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Adelaide, Feb 10, 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 Limited drilling report for the week ending 10 February.
Highlights of the week's activities include:
Egypt - North Shadwan Concession - Gulf of Suez
The NS377-5 oil field development well (Beach 20%) is at a depth of 2,849m(MD). The well has intersected the top of the Kareem Formation oil column 110 metres above the defined oil water contact for the field and is currently drilling ahead to programmed total depth.
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 Limited drilling report for the week ending 10 February.
Highlights of the week's activities include:
Egypt - North Shadwan Concession - Gulf of Suez
The NS377-5 oil field development well (Beach 20%) is at a depth of 2,849m(MD). The well has intersected the top of the Kareem Formation oil column 110 metres above the defined oil water contact for the field and is currently drilling ahead to programmed total depth.
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Well Participants
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NS377-5 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)09/02/2010 Kareem Formation
Depth: 2849m
Operation: Drilling ahead.
Progress: 640m
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Well Participants
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Coonatie-16 BPT 17.14%
PPL131 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)10/02/2010 multi Permian
Depth: 1132m targets
Operation: Waiting on weather after
receiving heavy rains.
Progress: 0m
( * ) Operator
(s) Secondary Targets
BPT Beach Energy Ltd
ORG Origin Energy Resources Ltd
BP BP Exploration (Delta)
TOE TriOcean Energy
STO Santos Limited
About Beach Energy Limited
Beach Energy Limited (ASX:BPT) is a long established oil and gas Exploration and Production Company, based in Adelaide, South Australia.
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