Adelaide, Dec 18, 2008 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announce the drilling report for the week ending ending 17 December 2008
The drilling report for the week ending 17 December, 2008 are attached. Highlights of the week's activities include:
Beach Petroleum Operated Cooper / Eromanga Exploration
The Callawonga-5 oil field development well (PPL 220) spudded on 13 December and is currently drilling ahead at a depth of 736 metres. Interests in the well 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, one well is being cased for further evaluation (Zeus-1, Beach 30.00%) and one well is in progress (Gidgealpa-61, Beach 20.21%).
Beach Operated Offshore South East Australia Program
Fermat-1, located in offshore Otway Basin Permit Vic/P46, spudded on 13 December and is currently at a depth of 999 metres and pulling out of hole at 13.375" casing point. The well is targeting total mean potential gas resources of approximately 1 TCF in Waarre Formation and Flaxman Formation sands on the north eastern flank of the Normanby High. Interests in Fermat-1 are Beach Petroleum Ltd, 50.00%, Essential Petroleum Resources Ltd, 25.00% and Mitsui E&P Australia Pty Ltd, 25.00%.
------------------------------------Well Participants------------------------------------Fermat-1 BPT* 50.00%VIC/P46 EPR 25.00%Gas Exploration MIT 25.00%Otway Basin, Vic ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0800 (AEST) 17/12/2008 Waarre Fm (Unit C)Depth: 999m Flaxman FmOperation: Pulling out of hole at 13.375" casing point. Progress: 999m ------------------------------------Well Participants------------------------------------Callawonga-5 BPT* 75.00% PPL 220 COE 25.00% Oil Development C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 17/12/2008 Namur Sst Depth: 736m Operation: Drilling ahead in the Early Cretaceous. Progress: 736m ------------------------------------Well Participants------------------------------------Gidgealpa-61 BPT 20.21% PPL 6 STO* 66.60% Oil Appraisal ORG 13.19% C/E Basin, Qld ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 17/12/2008 Birkhead Fm Depth: 1661m Hutton SstOperation: Drilling ahead in the Westbourne Formation.Progress: 1346m ------------------------------------Well Participants------------------------------------Zeus-1 BPT 30.00% ATP 259P (Total 66) STO* 70.00% Oil Exploration C/E Basin, QLD ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 17/12/2008 Hutton Sst Depth: 1771m (TD) Namur Sst (s) Operation: Well is being cased for further eval. Basal Jurassic Progress: 1679m ------------------------------------Well Participants------------------------------------Okotoko-3 BPT 23.20% PL 83 STO* 60.06% Gas Development ORG 16.74%C/E Basin, QLD ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 17/12/2008 Patchawarra FmDepth: 2332m (TD) Hutton Sst Operation: Well is being cased as a future Patchawarra Formation gas producer. Progress: 1399m ------------------------------------Well Participants------------------------------------Tirrawarra-74 BPT 20.21% PPL 20 STO* 66.60% Gas Development ORG 13.19% C/E Basin, QLD ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 17/12/2008 Patchawarra Fm Depth: 951m Tirrawarra Sst Operation: Drilling ahead in the Early Cretaceous. Progress: 951m --------------------------------COAL SEAM GAS PROJECTS Location Participants--------------------------------PL 198 BPT 40%Coal Seam Develop't AOE* 60%Surat Basin, QLD --------------------------------------------------------------------Well Depth Operation: 0600hrs (EST) 17th December 2008--------------------------------------------------------------------Tipton-144 638.93m well completed as future gas producer; rig moved to Tipton 146. Tipton-146 28.89m Drilling surface hole.* Operator (s) Secondary Targets COE Cooper Energy LimitedORG Origin Energy Resources LTD BPT Beach Petroleum Ltd EPR Essential Petroleum Resources LtdSTO Santos Limited AOE Arrow Energy NLMIT Mitsui E&P Australia
Contact
Reg Nelson
Beach Petroleum
08 8338 2833
Mark Lindh
Adelaide Equity
0414 551 361
Ian Howarth
Farrington National
03 9223 2455
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