Beach Energy Limited Stock Market Press Releases and Company Profile

Adelaide, Oct 22, 2008 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announce the drilling report for the week ending 22 October, 2008 are attached. Highlights of the week's activities include:

Highlights of the week's activities include:

Cooper/Eromanga Oil

In areas operated by Santos, Tickalara-19 (Beach 30.00%) has been cased and suspended as a future McKinlay oil producer.

Beach Petroleum Operated Cooper / Eromanga Exploration

Brownlow-1 (PEL 106FI, Beach 50.00%), targeting lower Patchawarra Formation gas and condensate, spudded on 19 October and is currently running surface casing.

Bass Basin - Offshore Tasmania: PeeJay-1 (T/39P)

The West Triton jack-up rig is being moved to shallower waters to effect rig repairs.
----------------------------Well            Participants----------------------------PeeJay-1              BPT*    50.00%T/39P                 BEN     50.00% Oil Exploration                     Bass Basin, Tas.                    ---------------------------------------------------------------Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------Report Time:    0600 (AEST) 22/10/2008            Upper EasternDepth:          0m                                View GroupOperation:      Rig repairs.                    Progress:       0m                      ----------------------------Well            Participants----------------------------Brownlow-1            BPT*    50.00%PEL106 (Farmin block) DLS     50.00%Gas Exploration                     C/E Basin, SA                       ---------------------------------------------------------------Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------Report Time:    0600 (CST) 22/10/2008              Patchawarra FmDepth:          924m                    Operation:      Running surface casing.                 Progress:       924m   ----------------------------Well            Participants----------------------------Tickalara-19          BPT     30.00%  PL 34                 STO*    70.00%  Oil Appraisal                         C/E Basin, Qld                        ---------------------------------------------------------------Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------Report Time:    0600 hrs (CST) 22/10/2008          Murta FmDepth:          1486m (TD)                         McKinlay  Mbr (s)Operation:      Well is cased and suspended                 as a future McKinlay                                        Member oil producer.                    Progress:       1227m                   ----------------------------Well            Participants----------------------------Jackson South-14      BPT     38.50%  PL 24                 STO*    55.50%  Oil Development       IOR     2.00%   C/E Basin, Qld        DLS     2.00%                         AGF     2.00%   ---------------------------------------------------------------Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------Report Time:    0600 hrs (CST) 22/10/2008          Westboure Fm                      Depth:  1593m (1512TVD) (TD)                       mid Birkhead Fm /     Operation:      Well to be plugged and abandoned.  Hutton Sst (s)   Progress:       615m                                                                                                DST-1:  Recovered 25 bbls of formation water                                ----------------------------Well            Participants----------------------------Yawa-2                BPT     23.20%  PL 111                STO*    60.06%  Gas Development       ORG     16.74%       C/E Basin, QLD                        ---------------------------------------------------------------Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------Report Time:    0600 hrs (CST) 22/10/2008          Patchawarra FmDepth:  764m                                            Operation:      Nippling up blow-out preventers.        Progress:       764m                                                            ----------------------------Well            Participants----------------------------Big Lake-91           BPT     20.21%PPL11                 STO*    66.60%Gas Development       ORG     13.19%C/E Basin, SA                       ---------------------------------------------------------------Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------Report Time:    0600 hrs (CST) 22/10/2008          Patchawarra FmDepth:  1219m (1194m TVD)                          Tirrawarra Sst (s)Operation:      Drilling ahead -  directional hole.              Progress:       1219m                   --------------------------------COAL SEAM GAS PROJECTS          Location            Participants--------------------------------Pl 198               BPT     40%Coal Seam Develop't  AOE*    60%Surat  Basin, QLD               --------------------------------------------------------------------Well         Depth       Operation: 0600hrs (EST) 22nd October 2008 --------------------------------------------------------------------Tipton-141      553.04m (TD)    Completed as future gas producer                Rig moved to Tipton-138         Tipton-138      29.0m   Drilling surface hole.  * Operator                                                              (s)  Secondary Targets     AOE Arrow Energy NL             BPT  Beach Petroleum Ltd   ORG Origin Energy Resources LTD STO  Santos Limited        AGF Australian Gas Fields LTD   DLS  Drillsearch Energy    IOR Inland Oil Resources        BEN  Benaris Petroleum N.V

Contact

Reg Nelson
Beach Petroleum
08 8338 2833

Mark Lindh
Adelaide Equity
0414 551 361

Ian Howarth
Farrington National
03 9223 2455


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