Press Releases

Adelaide, Feb 17, 2010 (ABN Newswire) - Beach Energy Limited (ASX:BPT) (PINK:BEPTF) drilling report for the week ending 17 February.

Highlights of the week's activities include:

Egypt - North Shadwan Concession - Gulf of Suez

The NS377-5 oil field development well (Beach 20%) has reached a total depth of 2909m MD (-1767m TDV SS) after intersecting a gross oil column of 107m in the Kareem Formation. The well is being cased completed.

Cooper/Eromanga Basin Exploration and Development

Drilling Operations in the Cooper/Eromanga have been suspended following heavy rainfalls in the basin. Operations will resume as soon as the flood waters recede and roads in the basin again become accessible.

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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)16/02/2010   Kareem Formation
Depth:       2909m (TD)
Operation:   Well is being cased and completed
             as a future Kareem Formation oil producer.
Progress:    60m

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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) 17/02/2010   multi Permian targets
Depth:       1132m
Operation:   Waiting on weather.
Progress:    0m

( * )  Operators
(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