Beach Energy Limited Stock Market Press Releases and Company Profile

Adelaide, April 16, 2008 AEST (ABN Newswire) - Beach Petroleum Limited (ASX: BPT)(PNK: BEPTF) Weekly Drilling Report Week ending 16 April 2008

The weekly drilling report for the week ending 16 April 2008 is below.

Highlights of the week's activities include:

Cooper/Eromanga Oil

- Currumbin-1 (Beach 85%) was plugged and abandoned, electric logs indicating potential reservoirs to be water saturated.

- Coolangatta- 1 oil exploration well (Beach 85%) is drilling ahead in the surface hole. The primary objective for the well is the Jurassic Namur Sandstone, with strong secondary potential for oil in the Middle Jurassic basal Birkhead Formation / Hutton Sandstone.

- In areas operated by Santos, two successful wells were drilled (McKinlay-7, Beach 20.21% and Cook-13, Beach 20.00%) and one well is in progress (Granchio-2, Beach 20.21%).

BMG Project

Basker 6 ST1 reached a TD of 3395m MDRT on Friday April 11. The well intersected the target reservoir sections close to prognosis. A wireline log evaluation program and pressure data acquisition confirmed the presence of hydrocarbons and the well will be completed by the rig as a future oil producer from multiple zones. First oil is forecast in July 2008 and the operator expects a flow rate of approximately 1500 bopd to be achieved.

Contact

Hector Gordon
Chief Operating Officer
Tel: (618) 8338 2833


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