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 (

PINK: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.

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Well                    Participants
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NS 377-5                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)16/02/2010   Kareem Formation
Depth:       2909m (TD)
Operation:   Well is being cased and completed
             as a future Kareem Formation oil producer.
Progress:    60m

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Well                    Participants
--------------------------------------
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) 17/02/2010   multi Permian targets
Depth:       1132m
Operation:   Waiting on weather.
Progress:    0m

( * )  Operators
(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.