For Immediate Release - 1 July 2015

Ref. #036/15

ASX Ltd

Companies Announcement Office

Electronic Lodgement System

Dear Sir,

Automatic Vesting of 2012 and 2013 STI Rights and Issue of shares on achievement of retention condition

Beach Energy advises that it has issued shares to executives under its Executive Incentive Plan for the

2012 and 2013 Short Term Incentive offers details of which are set out in the attached Appendix 3B.

Executives were issued performance rights in 2013 and 2014 respectively following the achievement of short term incentive performance conditions set for executives for the 2012-13 and 2013-14 financial years. These rights were also subject to additional employment retention conditions which have been met in part. One half of the rights held by executives who remain employed by Beach on

1 July 2015 automatically vested and were issued as shares for nil consideration. The shares were issued in a share trading blackout period for the company and may not be traded during this period.

Yours faithfully,

Cathy Oster

Company Secretary


Appendix 3B New issue announcement

Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12,

04/03/13

Name of entity

BEACH ENERGY LIMITED

ABN

20 007 617 969

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).


1 +Class of +securities issued or to be issued

FULLY PAID ORDINARY SHARES


2 Number of +securities issued or to be issued (if known) or maximum number which may be issued

(a) 133,945 FULLY PAID ORDINARY SHARES

(b) 307,990 FULLY PAID ORDINARY SHARES


3 Principal terms of the

+securities (e.g. if options,

exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if

+convertible securities, the

conversion price and dates for
conversion)

FULLY PAID ORDINARY SHARES

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 1

Appendix 3B

New issue announcement



4 Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?
If the additional +securities do not rank equally, please state:
• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

YES


5 Issue price or consideration NIL
6 Purpose of the issue
(If issued as consideration for
the acquisition of assets, clearly
identify those assets)

(a) ISSUED UPON VESTING OF UNLISTED PERFORMANCE RIGHTS ISSUED 30 AUGUST 2013

PURSUANT TO THE BEACH ENERGY LIMITED EXECUTIVE INCENTIVE PLAN FOR THE 2012 SHORT TERM INCENTIVE OFFER FOLLOWING ACHIEVEMENT OF THE RETENTION PERFORMANCE CONDITION.

(b) ISSUED UPON VESTING OF UNLISTED PERFORMANCE RIGHTS ISSUED ON 1 SEPTEMBER 2014

PURSUANT TO THE BEACH ENERGY LIMITED EXECUTIVE INCENTIVE PLAN FOR THE 2013 SHORT TERM INCENTIVE OFFER FOLLOWING ACHIEVEMENT OF THE RETENTION PERFORMANCE CONDITION.



6a Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

N/A


6b The date the security holder resolution under rule 7.1A was passed

N/A

+ See chapter 19 for defined terms.

Appendix 3B Page 2 04/03/2013

Appendix 3B New issue announcement



6c Number of +securities issued without security holder approval under rule 7.1

N/A


6d Number of +securities issued with security holder approval under rule 7.1A

N/A


6e Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

N/A


6f Number of +securities issued under an exception in rule 7.2

N/A


6g If +securities issued under rule
7.1A, was issue price at least 75%
of 15 day VWAP as calculated
under rule 7.1A.3? Include the

+issue date and both values.

Include the source of the VWAP
calculation.

N/A


6h If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

N/A



6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

N/A

7 +Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

1 JULY 2015

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 3

Appendix 3B

New issue announcement


8 Number and +class of all

+securities quoted on ASX

(including the +securities in
section 2 if applicable)
9 Number and +class of all

+securities not quoted on ASX

(including the +securities in
section 2 if applicable)

10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

N/A

Part 2 - Pro rata issue - NOT APPLICABLE


11 Is security holder approval required?

12 Is the issue renounceable or non- renounceable?

13 Ratio in which the +securities will be offered

14 +Class of +securities to which the offer relates

15 +Record date to determine entitlements

16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

17 Policy for deciding entitlements in relation to fractions

+ See chapter 19 for defined terms.

Appendix 3B Page 4 04/03/2013


18 Names of countries in which the entity has security holders who will not be sent new offer documents

Note: Security holders must be told how their entitlements are to be dealt with.

Cross reference: rule 7.7.


19 Closing date for receipt of acceptances or renunciations

20 Names of any underwriters

21 Amount of any underwriting fee or commission

22 Names of any brokers to the issue

23 Fee or commission payable to the broker to the issue

24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders

25 If the issue is contingent on security holders' approval, the date of the meeting

26 Date entitlement and acceptance form and offer documents will be sent to persons entitled

27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders

28 Date rights trading will begin (if applicable)

+ See chapter 19 for defined terms.

Appendix 3B New issue announcement

04/03/2013 Appendix 3B Page 5

Appendix 3B

New issue announcement



29 Date rights trading will end (if applicable)

30 How do security holders sell their entitlements in full through a broker?

31 How do security holders sell part of their entitlements through a broker and accept for the balance?

32 How do security holders dispose of their entitlements (except by sale through a broker)?
33 +Issue date

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of +securities
(tick one)
(a) +Securities described in Part 1
(b) All other +securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid,

employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

+ See chapter 19 for defined terms.

Appendix 3B Page 6 04/03/2013

Appendix 3B New issue announcement

Entities that have ticked box 34(a) - NOT APPLICABLE

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35 If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities
held by those holders
36 If the +securities are +equity securities, a distribution schedule of the additional

+securities setting out the number of holders in the categories

1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and over
37 A copy of any trust deed for the additional +securities

Entities that have ticked box 34(b)


38 Number of +securities for which

+quotation is sought


39 +Class of +securities for which quotation is sought

40 Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted

+securities?

If the additional +securities do not rank equally, please state:
• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

+ See chapter 19 for defined terms.

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Appendix 3B

New issue announcement



41 Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another +security, clearly identify that other +security)
42 Number and +class of all

+securities quoted on ASX

(including the +securities in clause
38)

Quotation agreement

1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX

may quote the +securities on any conditions it decides.

2 We warrant the following to ASX.

• The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those +securities should not be granted

+quotation.

• An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.

• If we are a trust, we warrant that no person has the right to return the

+securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.

3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

+ See chapter 19 for defined terms.

Appendix 3B Page 8 04/03/2013

Appendix 3B New issue announcement

4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before

+quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here: Date: 1 July 2015 (Company secretary)

Print name: KATHRYN PRESSER

== == == == ==

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 9

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