Beach Energy Limited Stock Market Press Releases and Company Profile

Adelaide, Feb 19, 2009 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announce the drilling report for the week ending 18 February 2009.

The drilling report and well location map for the week ending 18 February, 2009 are attached. Highlights of the week's activities include:

Beach Petroleum Operated Cooper / Eromanga Exploration

Perlubie-1 has been cased and suspended for completion as a future oil producer. The well is to be tied-in to the nearby Parsons oil field facilities, from which oil will then be transported to Moomba by existing pipelines. Production from Perlubie-1 is scheduled to commence at the end of June. Interests in Perlubie-1 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: Muteroo-6, Beach 20.21% and Chilla-3A, Beach 38..50%.

Egypt - South East July Concession - Gulf of Suez

South July-1, targeting oil in the Lower Rudeis and Nubia Formations, is at a depth of 3647 metres. The current operation is preparing to run wireline log suite in advance of installing intermediate casing. 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) 18/02/2009            Namur, Pool (s)Depth:          1900m (TD)                      Birk/Hutt (s)Operation:      Well has been cased and suspended as a future Namur                    Sandstone oil producer.                 Progress:       0m  ------------------------------------Well                    Participants------------------------------------South July-1            BPT     20.00%  SE July Concession      STO*    40.00%  Oil Exploration         DNX     40.00%                Gulf of Suez,  Egypt                    --------------------------------------------------------------- Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------Report Time:    0600hrs (Egypt) 17/02/2009      Rudeis FmDepth:          3647m                           Nubia SstOperation:      Preparing to run intermediate log suite.          Progress:       323m                    ------------------------------------Well                    Participants------------------------------------Muteroo-6               BPT     20.21%  PPL 32                  STO*    66.60%  Oil Development         ORG     13.19%  C/E Basin, Qld                          --------------------------------------------------------------- Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------Report Time:    0600 hrs (AEST) 18/02/2009      Birkhead FmDepth:          1971m (TD)                      Hutton SstOperation:      Preparing to run wireline logs.                 Progress:       379m                    ------------------------------------Well                    Participants------------------------------------Mudrangie Sth-1         BPT     20.21%  PPL 196                 STO*    66.60%  Oil/Gas Development     ORG     13.19%           C/E Basin, SA                           --------------------------------------------------------------- Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------Report Time:    0600 hrs (AEST) 18/02/2009      Patchawarra FmDepth:          1737m                           Tirrawarra SstOperation:      Drilling ahead in the Wallumbilla Formation.           Progress:       361m                    ------------------------------------Well                    Participants------------------------------------Chilla-3A               BPT     38.50%  PL 25                   STO*    55.50%  Oil Appraisal           IOR     2.00%                C/E Basin, Qld          DLS     2.00%                        --------------------------------------------------------------- Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------Report Time:    0600 hrs (AEST) 18/02/2009      Murta FmDepth:          31m                     Operation:      Chilla-3 was abandoned at depth of 230m. Currently                         drilling surface hole at Chilla-3A,  located 5 metres from                 Chila-3.                        Progress:       31m                     ------------------------------------Well                    Participants------------------------------------Fly Lake-27             BPT     20.21%  PPL18                   STO*    66.60%  Gas Development         ORG     13.19%                    C/E Basin, SA                                                   --------------------------------------------------------------- Weekly Progress & Summary                       Primary Targets---------------------------------------------------------------  Report Time:    0600 hrs (CST) 18/02/2009       Patchawarra FmDepth:          2944m (TD)                      Operation:      Well to be cased and suspended as a future Permian                    gas producer.                   Progress:       653m                    --------------------------------COAL SEAM GAS PROJECTS          Location            Participants--------------------------------                                                               PL A 258                BPT     40%     Coal Seam Develop't     AOE*    60%     Surat  Basin, QLD                                                               PLA 258                 BPT     40%                Coal Seam Develop't     AOE*    60%     Surat  Basin, QLD                                                               ATP 683P                BPT     40%     Coal Seam Develop't     AOE*    60%     Surat  Basin, QLD--------------------------------------------------------------------Well          Depth       Operation: 0600hrs (EST) 18th February 2009--------------------------------------------------------------------Meenawarra-8  459.2m (TD)  Preparing to run production liner.       Meenawarra-7  458.85m (TD) Well has been completed.                             Rig moved to Meenawarra-8. Bora Creek 3   60.6m       Installing blowout preventers.                                                                             * Operator                                                         (s) Secondary Targets                           COE Cooper Energy Resources                     IOR Inland Oil Resources        BPT Beach Petroleum Ltd                         DNX Dana Petroleum (E&P) Limited                        ORG Origin Energy Resources LTD AOE Arrow Energy NL                             DLS Drillsearch N.L                     STO Santos Limited      AGF Australian Gasfields LTD

Contact

Hector Gordon
Chief Operating Officer
TEL: +61-8-8338-2833



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