ASX:BPT) (PINK:BEPTF) drilling report for the week ending 3 March, 2010. Highlights of the week's activities include:Egypt - North Shadwan Concession - Gulf of Suez
The Nafta-1 rig has been released from the NS377-5 oil field development well location. The ESP has been successfully commissioned and the well was pumped to clean up for approximately two hours at a steady rate of 2500 bfpd. The well results increase the confidence that an initial combined rate in excess of 3,000 bopd can be achieved when the NS377-3 and NS377-5 wells are brought on line later this year (Beach 20%).
Arrowie Basin (South Australia) - Paralana-2 Geothermal Well
Temperature measurements have been undertaken at the Paralana-2 geothermal well. The temperature measured at 3,674 metres using a maximum recording thermometer is 1760C, which exceeds the minimum temperature of 1700C targeted for the development of the Paralana resource (Beach earning 21%).
Cooper/Eromanga Basin Exploration and Development
Drilling Operations in the Cooper/Eromanga remain suspended following the heavy rainfalls in the basin. Operations will resume as soon as roads in the basin 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)2/03/2010 Kareem Formation
Depth: 2909m (TD)
Operation: Rig has been released following the successful
commissioning of Electric Submersible Pump (ESP).
Progress: 0m
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Well Participants
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Coonatie-16 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)3/03/2010 multi Permian targets
Depth: 1132m
Operation: Waiting on weather.
Progress: 0m
( * ) Operator
(s) Secondary Targets
BPT Beach Energy Ltd (ASX:BPT)
ORG Origin Energy Resources Ltd (ASX:ORG)
BP BP Exploration (Delta) (LON:BP)
TOE TriOcean Energy
STO Santos Limited (ASX:STO)
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.
Contact
Hector GordonChief Executive Officer
TEL: +61-8-8338-2833
FAX: +61-8-8338-2336
www.beachenergy.com.au
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