Adelaide, Dec 10, 2008 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announce the drilling report for the week ending ending 10 December 2008
Highlights of the week's activities include:
Beach Petroleum Operated Cooper / Eromanga Exploration
The Ensign 30 rig is currently being moved to Callawonga-5 (PPL 220) after a short delay due to significant rain in the region. Callawonga-5 is the first well of a four well program including two development wells at the Callawonga Oilfield and two oil exploration wells in PEL 92. Interests in PEL 92/PPL 220 are Beach Petroleum Ltd (75.00%) and Cooper Energy Ltd (25.00%).
Cooper/Eromanga Oil Exploration and Development - Santos Operated
In areas operated by Santos, two wells were successful (Gidgealpa-60, Beach 20.21% and Watkins-1, Beach 38.50%) and one well is in progress (Zeus-1, Beach 30.00%).
Beach Operated Offshore Program - South East Australia
The West Triton jack-up rig was unable to successfully jack up at the Spikey Beach-1 well location and the decision has been made to move the rig to the Fermat-1 location. Fermat-1 (Vic/P46, offshore Otway Basin), is the third of Beach Petroleum's planned three well offshore program. Beach, as Operator is currently considering options for a return to Spikey Beach-1 after Fermat-1. Interests in Fermat-1 are Beach Petroleum (50.00%), Mitsui E&P Australia Pty Ltd (25.00%) and Essential Petroleum Resources Ltd (25.0%).
North Shadwan - Egypt: Burtocal Oil Field Appraisal Well
The 'Burtocal' NS394-2B oil field appraisal well reached total depth on 5 December, intersecting a gross oil column of at least 31 metres in good quality Nubia Formation reservoir sands. Well results will now be evaluated in conjunction with interpretation of reprocessed seismic data to assist in the formulation of potential development plans. The well is being plugged and suspended for future re-entry as a potential future oil producer.
------------------------------------Well Participants------------------------------------Spikey Beach-1 BPT* 80.00% T/38P CUE 10.00% Oil Exploration EL 10.00% Bass Basin, Tas. ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 (AEST) 10/12/2008 Upper Eastern Depth: 0m View GroupOperation: Unable to successfullly jack up. Rig being moved to Fermat-1 location in the Otway Basin. Progress: 0m ------------------------------------Well Participants------------------------------------Callawonga-5 BPT* 75.00% PPL 220 COE 25.00% Oil Development C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 (CST) 10/12/2008 Namur SstDepth: 0m Operation: Rig moving onto location.Progress: 0m ------------------------------------Well Participants------------------------------------ NS394-2B BPT 20.00% (Burtocal-2B) BP* 50.00% Oil Appraisal Well TOE 30.00% N. Shadwan, Egypt ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600hrs (Egypt) 10/12/2008 Nubia SstDepth: 3215mRT (-3128m TVDSS) (TD) Matulla SstOperation: Plugged and suspended for re-entery as a potential future oil producer. Progress: 304m ------------------------------------Well Participants------------------------------------ Watkins-1 BPT 38.50% PL 35 STO* 55.50% Oil Exploration IOR 2.00% C/E Basin, Qld AGF 2.00% DLS 2.00% ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 10/12/2008 Hutton SstDepth: 1724m (TD) Basal Jurassic (s)Operation: Well has been cased and suspended as a future Hutton Sst, Westbourne Fm and Basal Jurassic oil producer.Progress: 435m ------------------------------------Well Participants------------------------------------Gidgealpa-60 BPT 20.21% PPL 6 STO* 66.60% Oil Appraisal ORG 13.19% C/E Basin, Qld ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 10/12/2008 Hutton SstDepth: 1891m (TD) Operation: Well has been cased and suspended as a future Namur Sandstone and Hutton Sandstone oil producer.Progress: 781m ------------------------------------Well Participants------------------------------------ Zeus 1 BPT 30.00% ATP 259P STO* 70.00% Oil Exploration C/E Basin, QLD ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (AEST) 10/12/2008 Hutton SstDepth: 92m Namur Sst (s)Operation: Drilling sirface hole Basal JurassicProgress: 92m ------------------------------------Well Participants------------------------------------Okotoko-3 BPT 23.20% PL 83 STO* 60.06% Gas Development ORG 16.74% C/E Basin, QLD ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 10/12/2008 Patchawarra FmDepth: 933m Hutton SstOperation: Drilling ahead in main hole. Progress: 933m --------------------------------COAL SEAM GAS PROJECTS Location Participants--------------------------------PL 198 BPT 40% Coal Seam Develop't AOE* 60% Surat Basin, QLD --------------------------------------------------------------------Well Depth Operation: 0600hrs (EST) 10th December 2008--------------------------------------------------------------------Tipton- 144 526m Drilling ahead towards total depth
* Operator
(s) Secondary Targets
ASX:BPT Beach Petroleum Ltd
ASX:STO Santos Limited
ASX:TOE TriOcean Energy
ASX:AOE Arrow Energy NL
ASX:ORG Origin Energy Resources LTD
ASX:AGF Australian Gas Fields LTD
BP BP Exploration (Delta)
ASX:CUE Galveston Mining Corp
ASX:DLS Drillsearch Energy
ASX:IOR Inland Oil Resources
ASX:COE Cooper Energy Resources
EL Exoil Limited
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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