Drillsearch Energy Limited (ASX:DLS) Production Test Flow Rate At Brownlow Wet Gas Project Equals Highest Production Test Rates In The Cooper Basin

Sydney, May 14, 2010 AEST (ABN Newswire) - Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that the extended production test for the Brownlow Wet Gas Discovery has continued at very strong rates with no evidence of significant pressure decline.

As previously announced, the Brownlow production test has achieved a peak test rate of 18.1 million cubic feet of gas per day through a 1-inch choke On an energy equivalent basis, this production rate is equal to over 2,350 barrels of oil equivalent per day after accounting for CO2 content. The production test has been choked back to a flow rate of 12-13 million standard cubic feet per day through a 38/64" inch choke. Condensate production is approximately 10 bbls per million cubic feet of gas per day.

Drillsearch has confirmed that the Brownlow production test rate is equal to the highest production test rates historically achieved in the South Australian Cooper Basin. Brownlow-1 production test rates compare favourably with well known offset field rates in the Western Cooper Basin.

The Brownlow-1 maximum test rate confirms this well is amongst the highest flowing wells in the basin, over a 5-meter perforation interval in the Patchawarra Formation. This flow rate is equivalent to the flow rates achieved by some of the biggest fields in the South Australian Cooper Basin including the Moomba, Big Lake, Della, Toolache and Strzelecki Gas Fields.

No other well in the area has recorded greater than 18.8 mmscf/d gas on a 1-inch choke which was achieved by the Strzelecki-3 well in July 1985. Notably until the Brownlow-1 extended production test, no other well in the South Australian Cooper Basin has achieved such a high rate since September 1998.

Drillsearch expects that Beach Energy (ASX:BPT), as operator of the PEL 106B block will commence the extended production test for the Canunda Wet Gas discovery which is located north of the Middleton-Brownlow-Udacha Wet Gas fairway within the next 2-3 days. The Brownlow production test will be shut in today for a two week build up whilst the test programme continues at Canunda.

Managing Director Brad Lingo stated "Achieving a production rate of this level with the Brownlow production test is a clear demonstration of the quality of the discoveries Drillsearch and Beach Energy are making in the Western Cooper Wet Gas Project area. This test result and the results we have already achieved at the Middleton and Udacha Wet Gas Fields gives us great confidence that we are likely to have established sufficient gas resources to underpin a major project in the PEL 106B block. These results also give us great confidence to accelerate our drilling activity in PEL 106B with Beach Energy to further define the wet gas resources we have already and to prove up additional reserves to further underpin a major project."

Contact

Brad Lingo Managing Director Tel: +61-2-9241-4440 www.drillsearch.com.au Email: admin@drillsearch.com.au