For immediate release - 27 April 2017

Ref. #022/17

ASX Ltd

Companies Announcement Office Electronic Lodgement System

FY17 GUIDANCE UPDATE

Beach Energy Ltd (ASX: BPT, "Beach") provides the following update in relation to guidance for FY17 production volumes and capital expenditure.

Production volumes

Beach has maintained its FY17 production guidance range of 10.3 - 10.7 MMboe. Capital expenditure

Beach has reduced its FY17 capital expenditure guidance range to $160 - 170 million (previously

$170 - 185 million). Factors contributing to this downward revision include:

  • Ongoing operating efficiencies which have resulted in faster drill times and reduced well costs;

  • Fit-for-purpose revisions to non-essential maintenance within both operated and non-operated ventures; and

  • Delay from Q4 FY17 to Q1 FY18 of certain project completions and long-lead item receipts. Yours sincerely,

Matt Kay

Chief Executive Officer

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

Matt Kay Chief Executive Officer

Investor Relations

Derek Piper Investor Relations Manager

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Beach Energy Limited published this content on 27 April 2017 and is solely responsible for the information contained herein.
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