Beach Energy Limited Stock Market Press Releases and Company Profile
Beach Energy Limited (ASX:BPT) Revised Production Guidance & Weekly Drilling Report
Beach Energy Limited (ASX:BPT) Revised Production Guidance & Weekly Drilling Report

Adelaide, Mar 24, 2010 AEST (ABN Newswire) - Beach Energy Limited (googlechartASX:BPT) (googlechartPINK:BEPTF) announce, as noted in the Company's Weekly Drilling Report, released 17 March 2010, heavy regional rainfall and subsequent flood conditions in the Cooper-Eromanga Basin have resulted in the suspension of drilling operations until the mid April to mid May timeframe.

The flooding of the basin as a whole has affected February production and is forecast to continue to have a slight impact on production for the remainder of this financial year.

The high profit oil production from Beach's operated Cooper oil assets, however, is expected to be relatively unaffected, primarily as a result of the installation of a pipeline network in PEL 92.

Approximately 100 kboe of oil and 150 kboe of gas and gas liquids of Beach's non-operated Cooper Basin production is forecast to be deferred into the following year.

Forecast production for FY10 is now forecast to be approximately 7.8 MMboe or 3% below previous guidance of 8.0 MMboe.

Provision of weekly drilling and operations reports will be suspended until drilling resumes.

Contact

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



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