Adelaide, Jan 22, 2009 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announce the drilling report for the week ending ending 21 January, 2009 are attached. Highlights of the week's activities include:
Beach Petroleum Operated Cooper / Eromanga Exploration
Gunyah-1 has been plugged and abandoned after wireline logs confirmed the absence of hydrocarbons in the well.
The Ensign 30 rig has been moved to the Perlubie-1 drill site, 1.3km south of the Gunyah-1 location and 2.6km south of the Parsons-2 oil well. Perlubie-1 spudded on 21 January and is currently drilling ahead at a depth of 107 metres in surface hole. The well is targeting a mean success volume of 520 kbbls of oil. It is the fourth well of a four well, Beach operated back-to-back drill program in PEL 92 / PPL 220 that commenced with the drilling of the Callawonga-5 and Callawonga-6 oil field development wells. Interests in the four well program are Beach Petroleum Ltd (75%) and Cooper Energy Ltd (25%).
Cooper/Eromanga Oil Exploration and Development - Santos Operated
In areas operated by Santos, two wells are in progress (Jackson-58, Beach 38.50% and Bindah-3, Beach 20.21%).
Beach Operated Offshore Australia Program - SE Australia
Fermat-1 has been plugged and abandoned and the rig released on 18 January. It has been decided that a jack-up rig is unsuitable for the drilling of Spikey Beach-1 and the West Triton rig has been demobilised and will be returned to Singapore. Alternate options for drilling the Spikey Beach Prospect are being assessed by the Joint Venture.
Egypt - South East July Concession - Gulf of Suez
South July-1, targeting oil in the Lower Rudeis and Nubia Formations, is drilling ahead at a depth of 2670 metres in the Belayim Formation. It is expected that the well will take approximately another six weeks to reach its planned total depth of 3970 metres. Interests in South July-1 are Beach Petroleum (Egypt) Pty Limited, 20%, Santos Egypt Pty Ltd, 40% and Dana Petroleum (E&P) Limited, 40%.
------------------------------------Well Participants------------------------------------ Perlubie-1 BPT* 75.00% PEL 92 COE 25.00% Oil Exploration C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 (CST) 21/01/2009 Namur Sandstone Depth: 107m Poolowanna (s)Operation: Drilling ahead in surface hole. Birk/Hutt (s)Progress: 107m ------------------------------------Well Participants------------------------------------ Gunyah-1 BPT* 75.00% PEL 92 COE 25.00% Oil Exploration C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 21/01/2009 Namur SstDepth: 2048m (TD) Operation: Well has been plugged and abandoned. Progress: 43m ------------------------------------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) 20/01/2009 Rudeis Fm Depth: 2670m Nubia SstOperation: Drilling 16" directional hole. Progress: 254m ------------------------------------Well Participants------------------------------------ Jackson-58 BPT 38.50% PL 21 STO* 55.50% Oil Appraisal IOR 2.00% C/E Basin, Qld DLS 2.00% AGF 2.00% ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (AEST) 21/01/2009 Hutton Sst Depth: 1518m (TD) Westbourne Fm (s)Operation: Circulating at TD prior to running logs. Progress: 1518m ------------------------------------Well Participants------------------------------------ Bindah-3 BPT 20.21% PPL 124 STO* 66.60% Oil/Gas Development ORG 13.19% C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (AEST) 21/01/2009 Tirrawarra Sst Depth: 920m Patchawarra FmOperation: Cementing surface casing. Progress: 920m ------------------------------------Well Participants------------------------------------ Tirrawarra-77 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) 21/012009 Patchawarra FmDepth: 2993m Tirrawarra SstOperation: Pulling out of hole with second core. Progress: 893m --------------------------------COAL SEAM GAS PROJECTS Location Participants-------------------------------- PL 198 BPT 40% Coal Seam Develop't AOE* 60% Surat Basin, QLD --------------------------------------------------------------------Well Depth Operation: 0600hrs (EST) 21st January 2009--------------------------------------------------------------------Tipton- 146 567m (TD) Running production liner.
* Operator
(s) Secondary Targets
COE Cooper Energy Resources
MIT Mitsui E&P Australia
AOE Arrow Energy NL
DNX Dana Petroleum (E&P) Limited
ORG Origin Energy Resources LTD
BPT Beach Petroleum Ltd
EPR Essential Petroleum Resources Ltd
STO Santos 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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