Beach Energy Finds Gas at Ragnal-1 and Oil at Martlet-1 Wells in Australia

Beach Energy Ltd., an Australian oil and gas exploration and production company, provided Wednesday the February drilling report at its upstream assets in Australia and Egypt.

Development

Australia – Cooper and Eromanga Basins

(Operated)

PRLs 151 to 172 (formerly PEL 91)

(Beach 40 percent, Drillsearch 60 percent)

A new four‐well pad drilling campaign commenced in the north of the Bauer Field, targeting the highly productive Namur Sandstone reservoir and overlying McKinlay Member. Bauer‐20 to ‐23 will be drilled from a single pad and located approximately 32.8 feet (10 meters) apart at surface, with directional drilling to commence from depths of approximately 2,296.5 feet (700 meters) to reach target zones. Top hole batch drilling at Bauer‐20, ‐21 and ‐22 was undertaken in February. Bauer‐23 will spud imminently and be drilled to total depth, with production hole drilling at Bauer‐20, ‐21 and ‐22 to follow.

Non‐operated


123456

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