Beach Reports New Field Discovery in Cooper-Eromanga

Beach Petroleum said Wednesday that a new oil field has been discovered at Callawonga-1 in the Cooper-Eromanga Basin in South Australia.

Located in permit PEL-92, the new field is approximately 7 kilometers from a Beach-Cooper Energy, Ltd. joint venture’s established facilities at Christies.

“DST 1 conducted late yesterday over the uppermost Namur Sandstone interval 1,340-1,346 meters resulted in a flow of oil to surface in 15 minutes,” said Hector Gordon, Beach’s chief operating officer, in a written statement to the Australian Stock Exchange. “The final rate was 2,400 barrels of oil/day flowing at a stabilized wellhead pressure of 115 psi through a ˝-inch surface choke. No water was observed during the test and a full string of oil was recovered.”

At 6 a.m. local time on July 26, the rig was preparing to drill ahead to further evaluate the Namur Sandstone oil zone and deeper objectives.

Participants in the Callawonga-1 well are Beach Petroleum Ltd (Operator) 75 % and Cooper Energy Ltd (25 %).

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