Beach Energy Limited

Equities

BPT

AU000000BPT9

Oil & Gas Exploration and Production

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1.615 ^AUD	-0.31%		+0.94%	+0.94%

Apr. 09	Jarden Adjusts Beach Energy Price Target to AU$1.70 from AU$1.90, Keeps at Overweight	MT
Apr. 09	Beach Energy's Waitsia Gas Plant Faces Further Delay, Higher Costs; Shares Plummet	MT

Beach Energy : BPT: Monthly Drilling Report - August 2014

September 03, 2014 at 01:12 am EDT

For Immediate Release - 3 September 2014

Ref. #064/14

ASX Ltd/SGX Singapore Exchange Ltd Companies Announcement Office Electronic Lodgement System

HIGHLIGHTS

August 2014

 Cullen-1 (Bonaparte Basin, Northern Territory) was cased and suspended at 3325 metres for future testing after intersecting 1000 metres of limestone and interbedded shale with evidence of natural fractures and elevated mud gas readings. In addition 1600 metres of dark grey to black marine shale were intersected with two cores cut for evaluation purposes including gas desorption analyses.

 Balgowan-1 exploration well was cased and suspended after intersecting an oil bearing reservoir, with 3.5 metres of net pay in the Namur Sandstone and two metres in the McKinlay Member. This discovery confirms the extension of the oil fairway to the north east of recent discoveries in PEL 91 and brings a new focus on a number of other prospects in this northern area of the permit.

 Burners-1 exploration well intersected an oil bearing reservoir with one metre net pay in the

Namur Sandstone and an oil bearing McKinlay Member. A drill stem test over the interval
1410.8 metres to 1418.0 metres in the McKinlay Member recovered 5.1 bbls of oil during the four hour test.

Drilling Report - Period ending 31 August 2014

Well

Participants

Progress & Summary

Primary Targets

Burners-1

BPT* 40.00% DLS 60.00%

Report Tim e: 0600 hrs (CST) 01/09/2014

Depth: 2031m (TD)

Operation: Well is cas ed and s us pended as a future McKinlay

Mem ber oil producer. Progres s : 2031m

Nam ur Sands tone, McKinlay Mem ber, Birkhead Form ation, Poolowanna Form ation.

PEL 91

Oil Exploration

Cooper, SA

BPT* 40.00% DLS 60.00%

Report Tim e: 0600 hrs (CST) 01/09/2014

Depth: 2031m (TD)

Operation: Well is cas ed and s us pended as a future McKinlay

Mem ber oil producer. Progres s : 2031m

Nam ur Sands tone, McKinlay Mem ber, Birkhead Form ation, Poolowanna Form ation.

Balgowan-1

BPT* 40.00% DLS 60.00%

Report Tim e: 0600 hrs (CST) 01/09/2014

Depth: 2019.5m (TD)

Operation: Well is cas ed and s us pended as a future Nam ur

Sands tone and McKinlay Mem ber oil producer. Progres s : 2019.5m

Nam ur Sands tone, McKinlay Mem ber, Birkhead Form ation, Poolowanna Form ation.

PEL 91

Oil Exploration

Cooper, SA

BPT* 40.00% DLS 60.00%

Report Tim e: 0600 hrs (CST) 01/09/2014

Depth: 2019.5m (TD)

Operation: Well is cas ed and s us pended as a future Nam ur

Sands tone and McKinlay Mem ber oil producer. Progres s : 2019.5m

Nam ur Sands tone, McKinlay Mem ber, Birkhead Form ation, Poolowanna Form ation.

Monthly Drilling Report- August 2014 BEACH

ENERGY

Well Participants Progress & Summary Primary Targets

Cullen-1

BPT' 50.00%

TOAG 50.00%

Report Time: 0600 hrs (WSl) 01.{)912014

Depth: 3325m (TD)

Operation: Well is cased and suspended forfurther evaluation.

Progress: 134m

Bonaparte Form ation,

Mlligans Form ation.

EP 126

Unconventional and Conventional Gas Bonaparte, NT

BPT' 50.00%

TOAG 50.00%

Report Time: 0600 hrs (WSl) 01.{)912014

Depth: 3325m (TD)

Operation: Well is cased and suspended forfurther evaluation.

Progress: 134m

Bonaparte Form ation,

Mlligans Form ation.

Martlet-1

BPT 40.00% SXY' 60.00%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 1154m Operation: Drilling ahead. Progress: 1154m

Namur Sandstone, Birkhead Form ation.

PEL 104

Oil Exploration

Cooper,SA

BPT 40.00% SXY' 60.00%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 1154m Operation: Drilling ahead. Progress: 1154m

Namur Sandstone, Birkhead Form ation.

Warthog-1

BPT 40.00% SXY' 60.00%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 1887m (TD)

Operation: Well is plugged and abandoned. Progress: 1887m

Birkhead Form ation.

PEL 111

Oil Exploration

Cooper,SA

BPT 40.00% SXY' 60.00%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 1887m (TD)

Operation: Well is plugged and abandoned. Progress: 1887m

Birkhead Form ation.

Gooranie East-1

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3139m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 3139m

Patchawarra Formation, Tirrawarra Form ation.

PPL 20

Gas Development

CIE Ba sin,SA

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3139m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 3139m

Patchawarra Formation, Tirrawarra Form ation.

Durham Downs-7

BPT 23.20%

STO' 66.06% ORG 16.50% APL 0.24%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 274m Operation: Drilling ahead. Progress: 274m

Toolachee Form ation,

Patchawarra Formation.

PL 80

Gas Development

CIE Ba sin,QLD

BPT 23.20%

STO' 66.06% ORG 16.50% APL 0.24%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 274m Operation: Drilling ahead. Progress: 274m

Toolachee Form ation,

Patchawarra Formation.

Durham Downs

BPT 23.20% STO' 66.06% ORG 16.50% APL 0.24%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 2728m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 2728m

Toolachee Form ation, Patchawarra Formation.

PL 80

Gas Development

CIE Ba sin,QLD

BPT 23.20% STO' 66.06% ORG 16.50% APL 0.24%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 2728m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 2728m

Toolachee Form ation, Patchawarra Formation.

Tirrawarra-81

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3009m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 428m

Patchawarra Formation, Tirrawarra Form ation.

PPL 20

Gas Development

CIE Ba sin,SA

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3009m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 428m

Patchawarra Formation, Tirrawarra Form ation.

Andree-5

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3166m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 3166m

Patchawarra Formation.

PPL 238

Gas Development

CIE Ba sin,SA

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3166m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 3166m

Patchawarra Formation.

Lake MacMillan-3

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3188m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 3188m

Epsilon Formation, Patchawarra Formation.

PPL 120

Gas Development

CIE Ba sin,SA

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3188m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 3188m

Epsilon Formation, Patchawarra Formation.

Big Lake-124

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3058m (TD)

Operation: Running pressure test in the Patchawarra Formation. Progress: 3058m

Patchawarra Formation, Tirrawarra Form ation, Merrim elia Form ation.

PPL 11

Gas Development

CIE Ba sin,SA

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3058m (TD)

Operation: Running pressure test in the Patchawarra Formation. Progress: 3058m

Patchawarra Formation, Tirrawarra Form ation, Merrim elia Form ation.

Big Lake-119

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3129m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 3129m

Patchawarra Formation, Tirrawarra Form ation, Merrim elia Form ation.

PPL 11

Gas Development

C/E Ba sin,SA

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 3129m (TD)

Operation: Well is cased and suspended as a future Permian gas producer.

Progress: 3129m

Patchawarra Formation, Tirrawarra Form ation, Merrim elia Form ation.

Big Lake-113

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 2624m

Operation: Re-entered well on 28/0812014. Drilling ahead. Progress: 2005m

Patchawarra Formation, Tirrawarra Form ation.

PPL 11

Gas Development

CIE Ba sin,SA

BPT 20.21% STO' 66.60% ORG 13.19%

Report Time: 0600 hrs (CSl) 01.{)912014

Depth: 2624m

Operation: Re-entered well on 28/0812014. Drilling ahead. Progress: 2005m

Patchawarra Formation, Tirrawarra Form ation.

Monthly Drilling Report - August 2014

Well

Participants

Progress & Summary

Primary Targets

Big Lake-111

BPT 20.21% STO* 66.60% ORG 13.19%

Report Tim e: 0600 hrs (CST) 01/09/2014

Depth: 3257m (TD)

Operation: Well is cas ed and s us pended as a future Perm ian gas producer.

Progres s : 192m

Patchawarra Form ation, Tirrawarra Form ation.

PPL 11

Gas Developm ent

C/E Bas in, SA

BPT 20.21% STO* 66.60% ORG 13.19%

Report Tim e: 0600 hrs (CST) 01/09/2014

Depth: 3257m (TD)

Operation: Well is cas ed and s us pended as a future Perm ian gas producer.

Progres s : 192m

Patchawarra Form ation, Tirrawarra Form ation.

Big Lake-112

BPT 20.21% STO* 66.60% ORG 13.19%

Report Tim e: 0600 hrs (CST) 01/09/2014

Depth: 3191m (TD)

Operation: Well is cas ed and s us pended as a future Perm ian gas producer.

Progres s : 3191m

Patchawarra Form ation, Tirrawarra Form ation.

PPL 11

Gas Developm ent

C/E Bas in, SA

BPT 20.21% STO* 66.60% ORG 13.19%

Report Tim e: 0600 hrs (CST) 01/09/2014

Depth: 3191m (TD)

Operation: Well is cas ed and s us pended as a future Perm ian gas producer.

Progres s : 3191m

Patchawarra Form ation, Tirrawarra Form ation.

El Salmiya-6

BPT 22.00% KEE* 50.00% DOV 28.00%

Report Tim e: 0600 hrs (local) 01/09/2014

Depth: 4042m Operation: Drilling ahead. Progres s : 1048m

Abu Roas h C, E, Bahariya, Khatatba.

Abu Sennan

Oil Developm ent

Egypt, Wes tern Des ert

BPT 22.00% KEE* 50.00% DOV 28.00%

Report Tim e: 0600 hrs (local) 01/09/2014

Depth: 4042m Operation: Drilling ahead. Progres s : 1048m

Abu Roas h C, E, Bahariya, Khatatba.

ASA-1X ST3

BPT 22.00% KEE* 50.00% DOV 28.00%

Report Tim e: 0600 hrs (local) 01/09/2014

Depth: 3385m (TD) Operation: Drilling ahead Progres s : 3385m

Abu Roas h C, E,

Abu Sennan

Oil Exploration

Egypt, Wes tern Des ert

BPT 22.00% KEE* 50.00% DOV 28.00%

Report Tim e: 0600 hrs (local) 01/09/2014

Depth: 3385m (TD) Operation: Drilling ahead Progres s : 3385m

Abu Roas h C, E,

( * ) Operator

BPT Beach Energy Ltd

DOV Dover Investments Ltd STO Santos Limited

APL Australia Pacif ic LNG

KEE Kuw ait Energy Egypt Ltd

SXY Senex Energy Ltd

DLS Drillsearch Ltd ORG Origin Energy Resources Ltd TOAG Territory Oil and Gas Pty Ltd

Progress - Progress since last drilling report of 31 July 2014

Neil Gibbins

Chief Operating Officer

For more information, contact the following on +61 8 8338 2833: Corporate

Reg Nelson Managing Director
Neil Gibbins Chief Operating Officer

Investor Relations

Chris Jamieson General Manager Investor Relations

Monthly Drilling Report - August 2014

Cooper/Eromanga Basins

Bonaparte Basin - North Territory Abu Sennan Concession, Egypt

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Latest news about Beach Energy Limited

Jarden Adjusts Beach Energy Price Target to AU$1.70 from AU$1.90, Keeps at Overweight	Apr. 08	MT
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Company Profile

Beach Energy Limited is an Australia-based oil and gas exploration and production company. It has operated and non-operated, onshore and offshore, oil and gas production from five producing basins across Australia and New Zealand and is a supplier to the Australian east coast gas market. Its operations include Cooper Basin, Eromanga Basin, Otway Basin, Bass Basin, Perth Basin and Taranaki Basin. Cooper Basin covers an area of approximately 127,000 square kilometers (km2) and extends across the northeast of South Australia and southwest of Queensland. Eromanga Basin covers an area of approximately 1,000,000 km2 and extends over South Australia, Northern Territory, Queensland and New South Wales. Otway Basin is approximately 500 kilometers (km) long from Cape Jaffa in South Australia to northwest Tasmania, covering both onshore and offshore. Bass Basin is located offshore between the southern tip of Victoria and the northern margin of Tasmania in the shallow waters of Bass Strait.

Sector

Oil & Gas Exploration and Production

Calendar

2024-08-11 - Q4 2024 Earnings Release

Related indices

S&P/ASX 200

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Ratings for Beach Energy Limited

Trading Rating

Investor Rating

ESG Refinitiv

B-

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Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1.62 AUD

Average target price

1.897 AUD

Spread / Average Target

+17.11%

Consensus

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