Beach Energy Limited

The Directors of Arrow Energy Ltd (Arrow)(ASX: AOE) are pleased to announce a substantial reserves upgrade of the Tipton West (Tipton) Field (Arrow 60%, Beach Petroleum 40%) as part of an ongoing multi-field certification program in the Surat Basin. Other Surat reserves increases are expected in the coming months.

The spudding this week of an oil appraisal well in a remote corner of western Queensland has marked an historic achievement today for energy group, Beach Petroleum Limited.

Disadvantaged children in one of the more remote corners of South Australia are to get new education and job opportunities, thanks to a decision by Beach Petroleum Limited to underwrite a new three-year assistance program.

The Federal Coalition today announced a $50 million election commitment to accelerate the commercialization of Petratherm's (ASX: PTR) Paralana Geothermal Energy Project in South Australia's northern Flinders Ranges.

Australia's Beach Petroleum Limited (ASX: BPT) today announced its first foray into the European Oil and Gas industry by moving into Spain's energy sector in a bid to become a long-term supplier to Europe's high demand, high paying power markets.

Alinta Limited was informed today that Beach Petroleum Limited and Anzon Australia Limited had deferred the development of the Basker Manta and Gummy gas fields. As a consequence, a conditional long-term agreement to supply gas to Alinta's proposed Tamar Valley Power Station in Tasmania will lapse on 28 June 2007.

A new geothermal or "hot rock" energy joint venture potentially worth tens of millions of dollars has been announced between Petratherm Limited (ASX: PTR) and Beach Petroleum Limited (ASX: BPT).

On 6 September 2006 Beach Petroleum Limited (Beach) announced that it would be undertaking a pro-rata entitlement issue to its shareholders as a part of the funding arrangements for its acquisition of the Delhi Petroleum Group.

Beach Petroleum Limited ("Beach") is pleased to advise that it has secured a $100 million corporate financing facility from the Commonwealth Bank of Australia ("CBA"), on an unsecured basis between the Beach Group and the CBA.

The search for new Australian oil and gas reserves has been boosted by today's announcement of a significantly expanded $100 million-plus exploration and appraisal program to be undertaken by Beach Petroleum Limited (ASX: BPT) in the upcoming financial year.