Beach Energy Limited (ASX:BPT) Completes Acquisition of Adelaide Energy Limited Through Compulsory Acquisition

Adelaide, Feb 10, 2012 AEST (ABN Newswire) - Beach Energy Limited (ASX:BPT) (PINK:BEPTF) announces it has acquired all of the outstanding shares in Adelaide Energy Limited (Adelaide Energy) through compulsory acquisition.

Beach acquired a relevant interest in Adelaide Energy of approximately 97% during the takeover offer period and, as a result, was able to move to compulsorily acquire the outstanding shares in Adelaide Energy it did not own. The purchase of the remaining outstanding shares was completed today.

Beach would like to acknowledge Mr Carl Dorsch, who stepped down as the Managing Director of Adelaide Energy on 31 January 2012, for the role he played in building Adelaide Energy to the company it was prior to the takeover. Beach and its staff wish Mr Dorsch the best for his future endeavours.

Contact

Corporate Reg Nelson Beach Energy Ltd Tel: +61-8-8338-2833 Investor Relations Chris Jamieson Beach Energy Ltd Tel: +61-8-8338-2833