Adelaide, Dec 31, 2008 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announce the drilling report for the week ending ending 31 December 2008
The drilling report and well location map for the week ending 31 December, 2008 are attached. Highlights of the week's activities include:
Beach Petroleum Operated Cooper / Eromanga Exploration
The Callawonga-6 oil field development well (PPL 220) spudded on 27 December and is currently drilling ahead at a depth of 935m. Interests in Callawonga-6 are Beach Petroleum Ltd (75%) and Cooper Energy Ltd (25%).
Cooper/Eromanga Oil Exploration and Development - Santos Operated
In areas operated by Santos, one well was successful (Minos-1, Beach 30%) and one well is in progress (Spencer West-3, Beach 20.21%).
Beach Operated Offshore Australia Program - South East Australia
Fermat-1 is at a depth of 2807m, preparing to drill ahead after running 9 5/8" intermediate casing. Interests in Fermat-1 are Beach Petroleum Ltd, 50%, Essential Petroleum Resources Ltd, 25% and Mitsui E&P Australia Pty Ltd, 25%.
Egypt - South East July Concession - Gulf of Suez
South July-1 is at a depth of 612m in the Zeit Formation. Current operation is running 20" surface casing. Interests in South July-1 are Beach Petroleum (Egypt) Pty Limited, 20.00%, Santos Egypt Pty Ltd, 40.00% and Dana Petroleum (E&P) Limited, 40.00%.
------------------------------------Well Participants------------------------------------ South July-1 BPT 20.00% SE July Concession STO 40.00% Oil Exploration Well DNX 40.00% Gulf of Suez, Egypt ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600hrs (Egypt) 30/12/2008 Rudeis FmDepth: 612m Nubia SstOperation: Running 20" casing. Progress: 441m ------------------------------------Well Participants------------------------------------ Fermat-1 BPT* 50.00% VIC/P46 EPR 25.00% Gas Exploration MIT 25.00% Otway Basin, Vic ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0800 (AEST) 31/12/2008 Waarre FmDepth: 2807m MDRT Flaxman FmOperation: preparing to drill ahead after running 9 5/8" intermediate casing. Progress: 645m ------------------------------------Well Participants------------------------------------ Callawonga-6 BPT* 75.00% PPL 220 COE 25.00% Oil Development C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 31/12/2008 Namur SstDepth: 935m Operation: Drilling ahead in the Allaru Mudstone. Progress: 935m ------------------------------------Well Participants------------------------------------Minos-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) 31/12/2008 Hutton SstDepth: 1761m (TD) Namur Sst (s)Operation: Well is to be cased and Basal Jurassic (s) suspended as a future Birkhead / Hutton oil producer. Currently preparing to test a potential oil zone in the Westbourne Formation. Progress: 527m ------------------------------------Well Participants------------------------------------ Tirrawarra-74 BPT 20.21% PPL20 STO* 66.60% Gas Development ORG 13.19% C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 31/12/2008 Patchawarra FmDepth: 3033m (TD) Tirrawarra SstOperation: Well to be cased and suspended as a future gas producer.Progress: 261m ------------------------------------Well Participants------------------------------------ Kanowana-7 BPT 23.20% PPL 28 STO* 60.06% Gas Development ORG 16.74% C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (AEST) 31/12/2008 Tirrawarra SstDepth: 1364m Patchawarra Fm (s)Operation: Drilling ahead in the Early Cretaceous. Progress: 1364m ------------------------------------Well Participants------------------------------------ Spencer West-3 BPT 20.21% PPL 53 STO* 66.60% Oil Appraisal ORG 13.19% C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 31/12/2008 McKinlay MemberDepth: 1487m Namur, Hutton(s)Operation: Pulling out of hole for a bit change. Progress: 1487m --------------------------------COAL SEAM GAS PROJECTS Location Participants--------------------------------ATP-683P BPT 40% Coal Seam Develop't AOE* 60% Surat Basin, QLD --------------------------------------------------------------------Well Depth Operation: 0600hrs (EST) 31st December 2008--------------------------------------------------------------------Tipton- 146 250m Surface casing run, will recommence drilling on the 5th January. * Operator (s) Secondary Targets AOE Arrow Energy NL EPR Essential Peteroleum Resources Ltd BPT Beach Petroleum Ltd ORG Origin Energy Resources LTD MIT Mitsui E&P Australia STO Santos Limited COE Cooper Energy Resources DNX Dana Petroleum (E&P) 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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