Drillsearch Energy Limited

Drillsearch Energy Ltd (ASX:DLS) (PINK:DRLLF) today released a company update to investors. In 2011, the Company have a high level of activity planned and the Board and Management are very optimistic regarding the Company's future prospects.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) today released its half yearly report and accounts. The Company posted a 203% increase in revenue, a 44% reduction in interim loss, with drilling set to commence.

Drillsearch Energy Ltd (ASX:DLS) (PINK:DRLLF) announce the sale of its three Gippsland Basin Permits being VIC/P63, VIC/P64 and T/46P held by it's wholly owned subsidiary Great Artesian Oil and Gas Pty Limited to Larus Energy Pty Limited.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) announce that Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has confirmed that the planned drilling of five exploration wells in PEL 91 is to commence in early March 2011. PEL 91 is located in the Cooper-Eromanga Basins' Western Flank Oil Fairway in South Australia and is jointly owned by Drillsearch (60%) and Beach Energy Ltd (40% - Operator).

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has contracted the Ensign#30 and Ensign#18 drilling rigs to carry out a minimum 16 well program on the Western Flank. The Ensign#30 rig is currently completing its move into the area and the Ensign#18 rig will move into the Western Flank on completion of its current contractual commitments with another operator.

Drillsearch Energy Ltd (ASX:DLS) (PINK:DRLLF) announce the completion of the sale of its Naccowlah Block interest along with the associated exploration permit ATP 259P and production licenses to Bounty Oil & Gas NL (ASX:BUY) (PINK:BYOGF).

Drillsearch Energy Ltd (ASX:DLS) (PINK:DRLLF) is providing this update on the progress of the Canunda-1 Condensate Discovery extended production test. The PEL 106B joint venture - Drillsearch (50%) and Beach Energy Ltd (50% Operator) Canunda-1 extended production test (EPT) will recommence after a work over to allow for not only retrieval of wireline and pressure gauges but also reconfiguration of the well to optimise production performance from the rich condensate/volatile liquids pay interval.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) advises the following in relation to its operations in PEL's g1 and 92 on the Western Flank of the Cooper Basin.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that it has acquired all of the remaining Queensland petroleum interests held by Bandanna Energy Ltd (ASX:BND) being interests in ATP539P, ATP549P West and PL18. The total consideration paid to acquire all of Bandanna's remaining interest is A$150,000.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) has been advised by Innamincka Petroleum Ltd that it has terminated the Merger Implementation Agreement providing for a friendly merger between Innamincka and Drillsearch via Scheme of Arrangement.