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Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week Ending 24 February 2010
Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week Ending 24 February 2010

Adelaide, Feb 24, 2010 AEST (ABN Newswire) - Beach Energy Limited (googlechartASX:BPT) (googlechartPINK:BEPTF) drilling report for the week ending 24 February, 2010.

Highlights of the week's activities include:

Egypt - North Shadwan Concession - Gulf of Suez

The reservoir interval of the NS377-5 oil field development well (Beach 20%) has been perforated and an Electric Submersible Pump (ESP) is being installed.

Cooper/Eromanga Basin Exploration and Development

Drilling Operations in the Cooper/Eromanga remain suspended following the heavy rainfalls in the basin. Operations will resume as soon as roads in the basin 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)23/02/2010 Kareem FormationDepth:       2909m (TD)Operation:   Reservoir interval has been perforated;             completion operations continue.Progress:    0m--------------------------------------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)24/02/2010  multi Permian targetsDepth:       1132mOperation:   Waiting on weather.Progress:    0m( * )  Operator(s)    Secondary TargetsBPT    Beach Energy LtdORG    Origin Energy Resources LtdBP     BP Exploration (Delta)

Contact

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



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