Beach Energy Limited Stock Market Press Releases and Company Profile
Beach to Accept Shares and Cash Option for Somerton Stake
Beach to Accept Shares and Cash Option for Somerton Stake

Sydney, June 4, 2012 AEST (ABN Newswire) - Beach Energy Limited (googlechartASX:BPT) advises that, under the off-market takeover offer by Cooper for Somerton, it will accept the shares and cash option for the 55.44% relevant interest it has in Somerton

Beach advised on 21 May 2012 that, in the absence of a higher offer, it will accept the off-market takeover offer by Cooper Energy Limited (googlechartASX:COE) for Somerton Energy Limited (googlechartASX:SNE).

The board of Beach has decided to accept the shares and cash option for its 55.44% relevant interest in Somerton. Under this option, Cooper is offering one Cooper share for every 4.73 Somerton shares plus 9 cents cash for each Somerton share.
As a consequence of accepting the shares and cash option, Beach will receive approximately 17 million shares in Cooper and $7.2 million in cash.

Contact

Beach Energy Limited
T: +61-8-8338-2833
F: +61-8-8338-2336
WWW: www.beachenergy.com.au



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