Beach Energy Limited (ASX:BPT) Received A$43.2 Million Contingent Payment For The Sale Of Tipton West Assets
Beach Energy Limited (ASX:BPT) Received A$43.2 Million Contingent Payment For The Sale Of Tipton West Assets

Perth, Sep 6, 2010 AEST (ABN Newswire) - Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has received a A$43.2 million contingent payment from Arrow Energy (ASX:AOE) in relation to the sale of the Tipton West assets.

This now brings the total funds realised from the Tipton West transaction to A$383.3 million. In addition, Beach may receive further contingent payments up to A$26.8 million.

Beach's already strong financial position has been further enhanced by this latest payment, taking cash on hand to approximately A$200 million.

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.

 


Contact

Reg Nelson / Hector Gordon
Corporate

Steve Masters / Nicola Frazer
Investor Relations

Beach Energy Limited
Tel: +61-8-8338-2833
http://www.beachenergy.com.au



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Arrow Energy        

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