Clarification of Dow Jones Article
Adelaide, May 15, 2012 AEST (ABN Newswire) - Beach Energy Limited (
ASX:BPT) notes the report published today by Dow Jones in reference to comments by its Chairman Mr Bob Kennedy and wishes to make the following clarification.
Early in 2011, Beach received a number of unsolicited approaches regarding its unconventional program in the Cooper Basin. Confidential discussions were held with a number of selected parties, during which time Beach became greatly encouraged by positive results from its unconventional program. Beach subsequently terminated these discussions.
Beach continues to receive unsolicited approaches in relation to its unconventional assets. Beach has recently, in the normal course of business, entered into confidential discussions with certain parties in relation to various assets within its unconventional portfolio. These discussions are ongoing.
Beach is evaluating what it believes is a gas resource that has the potential to reshape the Eastern Australian domestic and international gas market. Beach is now in the process of the finalisation of the acquisition of 100% of its South Australian PEL 218 (Permian) permit and has 60% of the ATP 855P permit in Queensland and intends to pursue its enhanced exploration and appraisal program in this acreage as previously announced.
Contact
Beach Energy Limited
T: +61-8-8338-2833
F: +61-8-8338-2336
WWW: www.beachenergy.com.au
| ||
|
