Beach Energy Limited Stock Market Press Releases and Company Profile
Monthly Drilling Report - July 2012
Monthly Drilling Report - July 2012

Adelaide, Aug 1, 2012 AEST (ABN Newswire) - Beach Energy Limited (googlechartASX:BPT) has released the Monthly Drilling Report for - the Month of July 2012. Australia and International.

AUSTRALIA

Operated Cooper Basin Unconventional Gas Program

The four week flowtest on Encounter-1 (PEL 218, Beach 100%) was completed on 27th July. A maximum gas rate of 1.3mmscf/d was achieved from the Roseneath-Epsilon-Murteree (REM) section after five fracture stimulation treatments. The combined maximum rate of over 2mmscf/d from the REM and Patchawarra is equal to the result from Holdfast-1 but with 1 less fracture stimulation zone. A pressure build up is currently being recorded before the well is suspended.

Drilling of the Streaky-1 exploration well (PEL 218, Beach 100%) on the Ensign 916 rig was completed in mid-July when the well reached a total depth of 3,821 metres in the Tirrawarra Sandstone. The full Patchawarra Formation section was drilled and preliminary log interpretation indicates gas saturation in the Patchawarra Formation and REM interval. Analysis of the cores taken from the Epsilon Formation, Murteree Shale and Patchawarra Formation has commenced and results will assist in further evaluation of the shale gas and basin-centred gas plays.

Halifax-1, a vertical exploration well in ATP 855P (Beach 60%, Icon Energy 40%), is expected to spud on the 2nd August on the Ensign 916 rig. Halifax-1 will evaluate the shale gas and basin-centred gas potential in the REM and Patchawarra Formation intervals within the Queensland portion of the Nappamerri Trough. The well is located approximately 12 kilometres northeast of Encounter-1 and has a planned total depth of 4,130 metres.

Operated Cooper-Eromanga Oil - Western Flank

The Ensign 930 rig continues an oil campaign in the Western Flank region. After drilling two successful Christies wells last month (PPL 205, Beach 75%), the rig has moved to PEL 91 (Beach 40%) to drill three Bauer appraisal wells. The first of these, the Bauer-5 step-out well, confirmed a north-easterly extension of the field by intersecting more than 6 metres of net oil pay in the Namur Sandstone, and also discovered a new oil pool in the Birkhead Formation. A drill stem test (DST) was conducted to evaluate the new reservoir interval, flowing clean oil to surface at 1,160 barrels of oil/day.

The well has been cased and suspended as a future oil producer.

Bauer-7, the second of the Bauer appraisal wells, spudded in the final week of July and is currently drilling ahead toward its Namur target.

Senex Operated Cooper-Eromanga Oil - Western Flank

The Ensign 948 rig drilled a new field discovery well at Mustang-1 (Beach 40%), where a DST flowed oil to surface at a rate of 2,500 barrels of oil/day. The DST was conducted over an interval within the Birkhead Formation that had strong oil shows and which correlates well with the reservoir interval within the Snatcher-Charo Field which lies just 4 kilometres to the east. The well has been cased and suspended for future production.

Santos Operated Cooper Basin Oil and Gas Development

The Big Lake-92 gas development well (Beach 20.21%) was drilled, cased and suspended during the month. The Big Lake Field is one of the largest of the Cooper Basin gas fields and is located about 15 kilometres from the Moomba Plant. The rig has subsequently moved to and spudded another development well, Big Lake-93.

Also in South Australia, a second rig has commenced drilling the Kanowana-8 liquids-rich gas development well about 40 kilometres NW from Moomba.

INTERNATIONAL

Kuwait Energy Operated - Abu Sennan Concession, Egypt

A second round of drilling in Abu Sennan is expected to commence shortly with the rig on location for drilling the ASA-1X exploration well. ASA-1X is located 1.9 kilometres north of the successful El Salmiya-1 well which discovered oil and gas in several zones within the Abu Roash Formation in late 2011 / early 2012. The well is targeting hydrocarbons in the Abu Roash and other intervals.

BP/GUPCO Operated - North Shadwan Concession, Egypt

The NS385-1 well is expected to commence drilling in September 2012. This well is designed as a long-reach onshore-to-offshore well, aimed at developing oil within the NS385 oilfield.
To view the complete Beach Energy drilling report, please click the link below:
http://media.abnnewswire.net/media/en/docs/ASX-BPT-188803.pdf


Contact

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



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