Full Year Report‌‌‌‌‌‌‌‌‌‌‌ Incorporating Appendix 4E Preliminary Final Report under ASX Listing Rule 4.3A for the period ended‌‌‌ 30 June 2016. This report is based on financial statements which have been audited.

For the year ended 30 June 2016

Full Year Report Incorporating Appendix 4E Beach Energy Limited ABN 20 007 617 969 Preliminary Final Report under ASX Listing Rule 4.3A for the year ended 30 June 2016. This report is based on financial statements which have been audited.

CONTENTS

2 Appendix 4E

5 Directors' Report

  1. Auditor's Independence Statement

  2. Remuneration Report

59 Full year Financial Report

64 Notes to the Financial Statements

100 Independent Auditor's Report

ABOUT BEACH

Beach Energy Limited is an innovative oil and gas company where people and safety come first.

Beach has been growing its portfolio of assets steadily through its 50 year history and is now recognised as the largest net oil producer in the Cooper Basin.

Beach holds interests in more than 300 exploration and production tenements in Australia, Tanzania and New Zealand. Beach continues to seek additional opportunities in Australia and nearby.

For the year ended 30 June 2016

APPENDIX 4E

Preliminary Final Annual Report for the year ended 30 June 2016 (Rule 4.3A)

Results for announcement to the market Previous corresponding period - 30 June 2015

Change

%

Amount

$ million

Revenues from ordinary activities

DOWN

23%

to

564.6

Net loss from ordinary activities after tax attributable to members

UP

15%

to

(588.8)

Net loss after tax for the period attributable to members

UP

15%

to

(588.8)

Underlying Net profit after tax *

DOWN

61%

to

35.7

*Underlying results in this report are categorised as non-IFRS financial information provided to assist readers to better understand the financial performance of the underlying operating business. They have not been subject to audit or review by Beach's external auditors. Please refer to the table on page 14 for a reconciliation of this information to the financial report.

Net asset backing

Current Period

Previous Corresponding Period

Net asset backing per ordinary security

$0.58

$1.04

Change in ownership of controlled entities

Control gained over entities having material effect

Drillsearch Energy Limited group of companies

Loss of control of entities having material effect

Not applicable

Competent Persons Statement

The reserves and resources information in this report is based on, and fairly represents, information and supporting documentation prepared by, or under the supervision of, Mr Tony Lake (Manager Cooper Gas). Mr Lake is an employee of Beach Energy Limited and has a BE (Mech) degree from the University of Adelaide and is a member of the Society of Petroleum Engineers (SPE). The reserves and resources information in this report has been issued with the prior written consent of Mr Lake in the form and context in which it appears.

For the year ended 30 June 2016

Dividends

$ million

Current Period

Previous Corresponding Period

Ordinary Securities

$6.5

$38.9

Dividends

Amount per security

Franked amount per security at 30% tax

Interim dividend (fully franked)

-

-

Final dividend (fully franked)

0.50 cents

0.50 cents

Record date for determining entitlements to the final dividend

9 September 2016

-

Payment date for final dividend

30 September 2016

-

None of these dividends are foreign sourced. The final dividend will be paid from the profit distribution reserve.

Dividend Reinvestment Plan

Beach has established a Dividend Reinvestment Plan, details of which are available on Beach's website at www.beachenergy.com.au

Discount Rate for Dividend Reinvestment Plan (DRP)

2.50%

Last election date for participation in the DRP

12 September 2016

Record date

9 September 2016

Period over which share price for DRP will be determined

5 trading day period will commence on 14 September 2016 and end after 20 September 2016

Date of payment

30 September 2016

Beach Energy Limited published this content on 29 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 August 2016 23:16:01 UTC.

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