Beach Petroleum Limited (ASX:BPT) Weekly Drilling Report Week Ending 23 September 2009

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 23 September, 2009 are attached. Highlights of the week's activities include:

Beach Petroleum Operated Cooper / Eromanga Exploration (PEL 218)

Wakefield-1 (Beach 23.33% in Post Permian JV), targeting oil in the Namur and Hutton Sandstones, has reached total depth at 2298 metres in the Nappamerri Formation and is preparing to run wireline logs. Fair hydrocarbon shows have been observed within the Murta, Namur, Adori and Birkhead Formations.

Egypt - North Shadwan Concession - Gulf of Suez

The NS 394-3 [Burtocal North] offshore oil exploration well (Beach 20%) has reached a depth of 1315 metres and is running intermediate casing. Its primary target is the Nubia Sandstone.

The NS377-3 oil development well (Beach 20%) is expected to spud this week. This will be an extended reach production well drilled from an onshore location to intersect the offshore Kareem Formation oil pool at a location approximately 150 metres north of the GH377-1 discovery well.

---------------------------------
Well               Participants
---------------------------------
Wakefield-1        BPT*    23.33%
PEL 218            ADE     10.00%
Oil Exploration    ICN     33.33%
C/E Basin, SA      DEK     5.02%
                   WEL     5.02%
                   BUY**   23.28%
-------------------------------------------------------
Weekly Progress & Summary            Primary Targets
-------------------------------------------------------
Report Time: 0600 (CST) 23/09/2009   Namur Sandstone
Depth:       2298m (TD)              Hutton Sandstone
Operation:   Pulling out of hole
             to run wireline logs.
Progress:    831m

--------------------------------------
Well                    Participants
--------------------------------------
Paralana-2              BPT*    21.00%
GEL 178                 PTR     69.00%
Geothermal Exploration  TRU     10.00%
Arrowie Basin, SA
-------------------------------------------------------
Weekly Progress & Summary               Primary Targets
-------------------------------------------------------
Report Time: 0600 hrs (CST) 23/09/2009  Upper Cannana
Depth:       2777m                      or Bolla Bollana
Operation:   Running in hole to
             drill ahead.
Progress:    311m

------------------------------------
Well                  Participants
------------------------------------
NS 394-3              BPT     20.00%
(Burtocal-Nth)        BP*     50.00%
Oil Exploration Well  TOE     30.00%
N. Shadwan, Egypt
-------------------------------------------------------
Weekly Progress & Summary              Primary Targets
-------------------------------------------------------
Report Time: 0600hrs(Egypt) 22/09/2009 Nubia Sandstone
Depth:       1315m                     Matulla Sandstone
Operation:   Working stuck casing.
Progress:    643m

---------------------------------
Well               Participants
---------------------------------
NS 377-3           BPT     20.00%
Oil Development    BP*     50.00%
North Shadwan      TOE     30.00%
Egypt
--------------------------------------------------------
Weekly Progress & Summary                Primary Targets
--------------------------------------------------------
Report Time: 0600 hrs(local) 21/09/2009  Nubia Sandstone
Depth:
Operation:   Preparing to spud.
Progress:    0m

---------------------------------
Well               Participants
---------------------------------
Surlow-2           BPT     23.20%
PL 205             STO*    60.06%
Gas Development    ORG     16.74%
C/E Basin, QLD
-------------------------------------------------------
Weekly Progress & Summary               Primary Targets
-------------------------------------------------------
Report Time: 0600 hrs (CST) 23/09/2009  Patchawarra Formation
Depth:       2023m                      Birkhead Formation (s)
Operation:   Drilling ahead in the
             Nappamerri Group.
Progress:    1992m

---------------------------------
Well               Participants
---------------------------------
Bobs Well-2        BPT     20.21%
PPL 89             STO*    66.60%
Gas Development    ORG     13.19%
C/E Basin, SA
-------------------------------------------------------
Weekly Progress & Summary              Primary Targets
-------------------------------------------------------
Report Time: 0600 hrs(CST) 23/09/2009  Patchawarra Formation
Depth:       816m
Operation:   Surface casing set.
             Testing blow out preventers.
Progress:    816m

(s)   Secondary Targets
ORG   Origin Energy Resources Ltd
BPT   Beach Petroleum Ltd
ICN   Icon Energy Ltd
ADE   Adelaide Energy Ltd
ORG   Origin Energy Resources Ltd
BP    BP Exploration (Delta)
PTR   Petratherm Ltd
BUY   Bounty Oil & Gas NL
STO   Santos Limited
COE   Cooper Energy
TOE   TriOcean Energy
CUE   Cue Energy Resources
TRU   TRUenergy Pty Ltd
DEK   Deka Resources Pty Ltd
WEL   Well Traced Pty Ltd
EXO   Exoil Ltd

** Bounty Oil & Gas NL earning 23.28% interest in Post Permian strata in PEL 218 through Deka and Well Traced upon completion of drilling of Wakefield-1 and execution of assignment documentation.

*** Icon, Well Traced and Deka earning additional interests in Post Permian strata in PEL 218 through Beach upon completion of drilling of Wakefield-1 and execution of assignment documentation. Participation interests shown are final interests that will be earned (include Deka and Well Traced farmouts to Bounty.

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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