Adelaide Energy Limited (ASX:ADE) Encounter-1 Weekly Drilling Report

Adelaide, Oct 19, 2010 AEST (ABN Newswire) - Adelaide Energy Limited (ASX:ADE) is pleased to release Encounter-1 weekly drilling report.

Well name: Encounter-1

Permit: PEL 218 (Permian JV)

Participants: Beach Energy Limited (ASX:BPT) (PINK:BEPTF) - 90% (Operator); Adelaide Energy Ltd - 10%

Primary targets: Roseneath/Epsilon/Murteree; shale/sand/shale sequence

Spud Date: 3 October 2010

Target depth (prognosed): 3625m

Total depth @ end of current week: 2073m

Total depth @ end of previous week: 1034m
Metres drilled during week: 1039m

Activities during week: Set 13 3/8" surface casing at 1030.8m - pressure test BOP's, drill out and drill ahead in 12 1/4" hole

Current activities: Drill 12 1/4" hole (Adori s/stone estimated at 2190m)

For the complete Adelaide Energy announcement including figures, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/63978-ASX-ADE-180011.pdf

Contact

Carl Dorsch Managing Director Adelaide Energy Limited Mob:+61-0400-508-088 Email: c.dorsch@adelaideenergy.com.au Neil Young Chief Commercial Officer Adelaide Energy Limited Mob: +61-0417-850-245 Email: neil.young@adelaideenergy.com.au