Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week Ending 27 January 2010
Adelaide, Jan 27, 2010 AEST (ABN Newswire) - Beach Energy Limited (
ASX:BPT) (PINK:BEPTF) is a long established oil and gas Exploration and Production Company. Based in Adelaide, South Australia, the Company has oil and gas reserves of 66 million barrels of oil equivalent (at 30 June 2009), an annual production in the 2008/09 Financial Year of 9.6 million barrels of oil equivalent and an active exploration program within a balanced global portfolio of tenements.
Beach Energy Limited is pleased to provide a drilling report for the week ending 27 January, 2010.
Highlights of the week's activities include:
Egypt - North Shadwan Concession - Gulf of Suez
The NS 377-5 oil field development well (Beach 20%) is drilling ahead at a depth of 2011m(MD).
.--------------------------------------Well Participants--------------------------------------NS 377-5 BPT 20.00%Oil Development BP* 50.00%North Shadwan TOE 30.00%Egypt------------------------------------------------------Weekly Progress & Summary Primary Targets------------------------------------------------------Report Time: 0600 hrs(local)26/01/2010 Kareem FormationDepth: 2011mOperation: Drilling ahead.Progress: 1091m--------------------------------------Well Participants--------------------------------------Coonatie-17 BPT 17.14%PPL 131 STO* 72.32%Gas Development ORG 10.54%C/E Basin, SA-----------------------------------------------------Weekly Progress & Summary Primary Targets-----------------------------------------------------Report Time: 0600 hrs(CST)27/01/2010 multi Permian targetsDepth: 2388mOperation: Drilling ahead in the Hutton Sandstone.Progress: 1913m--------------------------------------Well Participants--------------------------------------Chi-1 BPT 30.00%Total 66 STO* 70.00%Oil ExplorationC/E Basin, Qld-----------------------------------------------------Weekly Progress & Summary Primary Targets-----------------------------------------------------Report Time: 0600 hrs(CST)27/01/2010 McKinlay MemberDepth: 1521m (TD) Birkhead/Hutton (s)Operation: Preparing to conduct a - Patchawarra Formation (s) drillstem test of the McKinlay Member.Progress: 977m( * ) Operator(s) Secondary TargetsBPT Beach Energy LtdORG Origin Energy Resources LtdBP BP Exploration (Delta)TOE TriOcean EnergySTO Santos Limited
Contact
Hector Gordon
Chief Operating Officer
TEL: +61-8-8338-2833
FAX: +61-8-8338-2336
www.beachenergy.com.au
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