Beach Petroleum Spuds Cooper/Eromanga & Bass Basin Wells

Bass Basin
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Cooper Basin Permit Locations
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Beach Petroleum has issued its weekly drilling report for the week ending November 19, 2008.

Highlights of the week's activities include:

Cooper/Eromanga Oil

In areas operated by Santos, the Watson-3 well (Beach, 38.5%) was successful and two wells are in progress (Gidgealpa-59, Beach 20.21% and Watson-4, Beach 38.5%)

Beach Petroleum Operated Cooper/Eromanga Exploration

The Canunda-1 well in PEL 106FI was spudded on November 14, 2008 targeting liquids rich Patchawarra Formation gas within a fault dependent closure on the western margin of the highly productive Patchawarra Trough. The rig is currently testing the blowout preventers prior to drilling out of surface casing.

Bass Basin -- Offshore Tasmania: PeeJay-1 (T/39P)

PeeJay-1 was spudded on November 15, 2008 targeting oil in the Upper Eastern View Group. Current operation is drilling ahead in the Torquay Group at a depth of 697m *Beach earning 50%).

North Shadwan -- Egypt: Burtocal-1 Oilfield Appraisal Well

Following Government approval, the acquisition by Beach Petroleum of a 20% interest in the North Shadwan Concession is now complete and Beach can now report on the progress of the Burtocal 2/2A well. The Burtocal discovery, one of three undeveloped discoveries in the Concession, was made in late 2007, the discovery well penetrating a thick oil column within the Nubia Formation, a prolific reservoir across the Gulf of Suez. The Burtocal-2/2A appraisal well is testing a separate fault compartment in the Burtocal structure. The current operation at Burtocal-2A is running into hole with a new bit.



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