Drillsearch Energy Limited

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that Circumpacific Energy Corporation (CVE:CER), the listed Canadian oil & gas subsidiary of DLS has entered into a definitive Plan of Arrangement Agreement to be acquired by Western Petroleum Commodities, Inc. ("WPC"), a private Canadian oil & gas company.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that it has agreed to sell its 2% Naccowlah Block Joint Venture interest and associated exploration permit ATP 259P and production licenses to Bounty Oil & Gas NL (ASX:BUY) (PINK:BYOGF) for A$1.15 million comprised of A$950,000 in cash and A$200,000 in BUY common stock.. The Naccowlah Block Joint Venture is owned by Santos Ltd (ASX:STO) (PINK:SSLTY) (55.5%) as operator, Beach Energy Ltd (ASX:BPT) (PINK:BEPTF) (38.5%), IOR Energy Pty Ltd (2%), Energy World Corporation Ltd (ASX:EWC) (PINK:EWCLF) (2%) and DLS (2%).

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that it has been advised by the operator, Beach Energy Ltd (ASX:BPT) that extended production testing is scheduled to resume on the Canunda Wet Gas/Liquids Discovery in PEL 106B in the South Australian Western Cooper Basin towards the end of the week of 9 August. The Canunda Wet Gas/Liquids Discovery and PEL 106B is owned by DLS (50%) and BPT (50%) as operator.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce its quarterly report for the period ended 30 June 2010.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) releases quarterly report for the period ending 30 June 2010.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce the planned drilling of up to five exploration wells in PEL 91 in the Cooper Basin Western Flank Oil Fairway in South Australia. Drillsearch and Beach Energy Limited (BPT) the operator of PEL 91 have agreed to the program. Interests in PEL 91 are Drillsearch (60%) and Beach as operator (40%).

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that the Watson West-1 exploration well has encountered sufficient pay to be cased and suspended as a future oil producer in the Basal Birkhead Formation.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce preliminary testing results for the Canunda Wet Gas discovery in PEL 106B which is owned by DLS (50%) and Beach Energy Limited (ASX:BPT) (PINK:BEPTF) (50%) as operator.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that the extended production test for the Brownlow Wet Gas Discovery has continued at very strong rates with no evidence of significant pressure decline.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that the extended production test for the Brownlow Wet Gas Discovery has commenced and was sampled at a rate of 10 million cubic feet of gas /day through a 24/64" inch choke. The well is also producing significant gas condensate at a rate of 120 barrels of condensate per day. After sampling the well has been opened up and is currently flowing 18 MMscf/d through a 1" inch choke.