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Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week ending 17 February 2010
Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week ending 17 February 2010

Adelaide, Feb 17, 2010 AEST (ABN Newswire) - Beach Energy Limited (googlechartASX:BPT) (googlechartPINK:BEPTF) drilling report for the week ending 17 February.

Highlights of the week's activities include:

Egypt - North Shadwan Concession - Gulf of Suez

The NS377-5 oil field development well (Beach 20%) has reached a total depth of 2909m MD (-1767m TDV SS) after intersecting a gross oil column of 107m in the Kareem Formation. The well is being cased completed.

Cooper/Eromanga Basin Exploration and Development

Drilling Operations in the Cooper/Eromanga have been suspended following heavy rainfalls in the basin. Operations will resume as soon as the flood waters recede and roads in the basin again become accessible.
--------------------------------------Well                    Participants--------------------------------------NS 377-5                BPT     20.00%Oil Development         BP*     50.00%North Shadwan           TOE     30.00%Egypt------------------------------------------------------Weekly Progress & Summary              Primary Targets------------------------------------------------------Report Time: 0600 hrs(local)16/02/2010   Kareem FormationDepth:       2909m (TD)Operation:   Well is being cased and completed             as a future Kareem Formation oil producer.Progress:    60m--------------------------------------Well                    Participants--------------------------------------Coonatie-16             BPT     17.14%PPL131                  STO*    72.32%Gas Development         ORG     10.54%C/E Basin, SA------------------------------------------------------Weekly Progress & Summary              Primary Targets------------------------------------------------------Report Time: 0600 hrs (CST) 17/02/2010   multi Permian targetsDepth:       1132mOperation:   Waiting on weather.Progress:    0m( * )  Operators(s)    Secondary TargetsBPT    Beach Energy LtdORG    Origin Energy Resources LtdBP     BP Exploration (Delta)TOE    TriOcean EnergySTO    Santos Limited

Contact

Hector Gordon
Chief Operating Officer
TEL: +61-8-8338-2833
FAX: +61-8-8338-2336
www.beachenergy.com.au



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