West Triton Jackup Moves on to Drill Fermat-1 Offshore Australia

Beach Petroleum has issued its weekly drilling report. Highlights of the week’s activities include:

Beach Petroleum Operated Cooper / Eromanga Exploration

The Ensign 30 rig is currently being moved to Callawonga-5 (PPL 220) after a short delay due to significant rain in the region. Callawonga-5 is the first well of a four well program including two development wells at the Callawonga Oilfield and two oil exploration wells in PEL 92. Interests in PEL 92/PPL 220 are Beach Petroleum Ltd (75.00%) and Cooper Energy Ltd (25.00%).

Cooper/Eromanga Oil Exploration and Development - Santos Operated

In areas operated by Santos, two wells were successful (Gidgealpa-60, Beach 20.21% and Watkins-1, Beach 38.50%) and one well is in progress (Zeus-1, Beach 30.00%).

Beach Operated Offshore Program - Southeast Australia
The West Triton jackup rig was unable to successfully jack up at the Spikey Beach-1 well location and the decision has been made to move the rig to the Fermat-1 location. Fermat-1 (Vic/P46, offshore Otway Basin), is the third of Beach Petroleum's planned three well offshore program. Beach, as Operator is currently considering options for a return to Spikey Beach-1 after Fermat-1. Interests in Fermat-1 are Beach Petroleum (50.00%), Mitsui E&P Australia Pty Ltd (25.00%) and Essential Petroleum Resources Ltd (25.0%).
North Shadwan - Egypt: Burtocal Oilfield Appraisal Well
The 'Burtocal' NS394-2B oil field appraisal well reached total depth on 5 December, intersecting a gross oil column of at least 31 meters in good quality Nubia Formation reservoir sands. Well results will now be evaluated in conjunction with interpretation of reprocessed seismic data to assist in the formulation of potential development plans. The well is being plugged and suspended for future re-entry as a potential future oil producer.

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