Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week ending 10 February 2010

Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week ending 10 February 2010

Adelaide, Feb 10, 2010 AEST (ABN Newswire) - Beach Energy Limited (

PINK:BEPTF) is a long established oil and gas Exploration and Production Company. Based in Adelaide, South Australia, the Company has oil and gas reserves of 66 million barrels of oil equivalent (at 30 June 2009), an annual production in the 2008/09 Financial Year of 9.6 million barrels of oil equivalent and an active exploration program within a balanced global portfolio of tenements.

Beach Energy Limited drilling report for the week ending 10 February.

Highlights of the week's activities include:

Egypt - North Shadwan Concession - Gulf of Suez

The NS377-5 oil field development well (Beach 20%) is at a depth of 2,849m(MD). The well has intersected the top of the Kareem Formation oil column 110 metres above the defined oil water contact for the field and is currently drilling ahead to programmed total depth.

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Well                    Participants
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NS377-5                 BPT     20.00%
Oil Development         BP*     50.00%
North Shadwan           TOE     30.00%
Egypt
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Weekly Progress & Summary               Primary Targets
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Report Time: 0600 hrs(local)09/02/2010  Kareem Formation
Depth:       2849m
Operation:   Drilling ahead.
Progress:    640m

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Well                    Participants
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Coonatie-16             BPT     17.14%
PPL131                  STO*    72.32%
Gas Development         ORG     10.54%
C/E Basin, SA
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Weekly Progress & Summary              Primary Targets
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Report Time: 0600 hrs(CST)10/02/2010   multi Permian
Depth:       1132m                        targets
Operation:   Waiting on weather after
             receiving heavy rains.
Progress:    0m

( * )  Operator
(s)    Secondary Targets
BPT    Beach Energy Ltd
ORG    Origin Energy Resources Ltd
BP     BP Exploration (Delta)
TOE    TriOcean Energy
STO    Santos Limited

About Beach Energy Limited

Beach Energy Limited (ASX:BPT) is a long established oil and gas Exploration and Production Company, based in Adelaide, South Australia.