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Last A$0.62 AUD
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Company Description

Contact Info

25 Conyngham Street

Glenside, SA 5065


Phone: 61 8 8338 2833

Fax: 61 8 8338 2336

Beach Petroleum Limited operates in the oil and gas industry within Australia. The Company holds interests in eight oil and gas producing assets in the Cooper/Eromanga and Otway Basins. Properties Cooper/Eromanga Basin Bodalla Block Oil Fields (Beach 100%) The Bodalla Block fields comprise the Bodalla South, Kenmore and Black Stump fields located in the Eromanga Basin of southwest Queensland, approximately 900 km west of Brisbane. In 2004 the Company has drilled five wells in the fields. Four wells were drilled in the Kenmore field and one well in the Bodalla South field. Kenmore-31, 32, 33 and 34 commenced production on free flow by February 2005 and were producing at a combined rate of 380 bopd as of June 30, 2005. Bodalla South-15 was drilled during February 2005 in the northern portion of the Bodalla South field and commenced production in March 2005. As of 30 June 2005, the well had produced 72 kbbls of oil. Jackson Oil Field (Beach 6.5%) A two well drilling program was undertaken in the Jackson field. Jackson-44, an oil development well, was drilled in March 2005. Production commenced from the well in May 2005 and as of June 30, 2005, 3,470 barrels of oil had been produced. Jackson-45, an oil appraisal well on the northern flank of the field, was drilled in May/June 2005.The well is expected to commence production. Sellicks Oil Field (Beach 75%) As of June 30, 2005, cumulative production had reached 230 kbbls. An appraisal well is planned for 2006. Christies Oil Field (Beach 75%) The Company has drilled 2 appraisal wells during August/September 2004. Christies-2 & 3 commenced production in October 2004 and produced 260 kbbls of oil, as of June 30, 2005. As of June 30, 2005, the wells were producing at a combined rate of approximately 1,000 bopd. Acrasia Oil Field (Beach 25%) Subsequent to June 30, 2005, Acrasia-4, a development well targeting the Hutton Sandstone, was drilled. The well was cased and completed for future production. Aldinga-1 (Beach 50%) In 2004, Aldinga-1 produced with the production rate stabilising approximately 25-30 bopd with minimal water. Further drilling on the Aldinga structure is being considered. Harpoono-1 (Beach 33.3%) Harpoono-1, drilled in May/June 2004, discovered oil in the Murta Formation and commenced production in November 2004. As of June, 30, 2005, the well was producing at a rate of 100 bopd. Cumulative production was 14 kbbls. Exploration Drilling As of June 30, 2005, five exploration wells were drilled, resulting in one commercial oil discovery. Coolum-1 (ATP 269P Coolum Block, Beach 46.95%), 11 km southwest of the Kenmore oil field and 0.5 km north of the Glenvale-1 oil well, was drilled during February 2005 and discovered oil in the Westbourne Formation. The well was cased and completed. Production commenced in July 2005 at a rate of 30 bopd on free flow. ATP 633P The Company is negotiating with the Wangkumarra Native Title claimants on a Right to Negotiate Agreement. Following execution of this agreement, it is anticipated the exploration activities would commence during 2006. Otway Basin Beach entered into a farmin arrangement with Essential Petroleum Resources Limited in relation to VIC/P46, in the Victorian offshore Otway Basin, under which Beach would earn a 17.5% interest in that tenement. As of June 30, 2005, no drilling was carried out. During the period ended June 30, 2005, Beach diluted its interest in PEL 27, in the South Australian onshore Otway Basin, from 50% to 30%. Beach would test an oil prospect located approximately 25 km northwest of Penola. Beach reached an agreement with Santos Limited and Origin Energy Resources Limited under which it would acquire a 50% interest in PEP 160, an exploration tenement located in the onshore Otway Basin in western Victoria. This well would be drilled in 2006 to test the gas potential of the Pretty Hill Sandstone in a prospect located approximately 30 km to the southeast of Penola. Gippsland Basin In October 2004, Beach acquired a 25% interest in VIC/RLs 6, 9 & 10, containing the Basker, Manta and Gummy oil and gas fields in the Gippsland Basin,

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