Adelaide, Jan 8, 2009 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announce the drilling report for the week ending ending 7 January 2009. The drilling report for the week ending 7 January, 2009 is attached.
Highlights of the week's activities include:
Beach Petroleum Operated Cooper / Eromanga Exploration
The Callawonga-6 oil field development well (PPL 220) has been cased and suspended as a future McKinlay Member / Namur Sandstone oil producer, the well intersecting 9.5 metres of net oil pay in high quality reservoir sands. This is considered an excellent result. The Ensign 30 rig has been moved to Gunyah-1, the third of four back-to-back wells currently being drilled by the Joint Venture in PEL92 / PPL 220. The Gunyah prospect is located on trend with the Parsons oil field, 1.3 km to the south of Parsons-2. Interests in the four well program are Beach Petroleum Ltd (75%) and Cooper Energy Ltd (25%).
Cooper/Eromanga Oil Exploration and Development - Santos Operated
In areas operated by Santos, two wells are in progress (Spencer West-3, Beach 20.21% and Tennaperra-2, Beach 30%).
Beach Operated Offshore Australia Program - South East Australia
Fermat-1 is at a depth of 3585m. The current operation is conditioning hole in preparation of running wireline logs. Interests in Fermat-1 are Beach Petroleum Ltd, 50%, Essential Petroleum Resources Ltd, 25% and Mitsui E&P Australia Pty Ltd, 25%. Note that Essential is currently in default of the December 2008 cash call requirements for the Fermat-1 drilling operations.
Egypt - South East July Concession - Gulf of Suez
South July-1, targeting oil in the Rudeis and Nubia Formations, is drilling ahead in the Zeit Formation at a depth of 1114m. Interests in South July-1 are Beach Petroleum (Egypt) Pty Limited, 20%, Santos Egypt Pty Ltd, 40% and Dana Petroleum (E&P) Limited, 40%.
------------------------------------Well Participants------------------------------------ South July-1 BPT 20.00% SE July Concession STO* 40.00% Oil Exploration Well DNX 40.00% Gulf of Suez, Egypt ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600hrs (Egypt) 6/01/2009 Rudeis FormationDepth: 1114m Nubia SandstoneOperation: Drilling ahead in the Zeit Formation. Progress: 502m ------------------------------------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) 7/01/2009 Waarre FormationDepth: 3585m MDRT Flaxman FormationOperation: Preparing to run wireline logs. Progress: 778m **Essential currently in default of payment of December cash call------------------------------------Well Participants------------------------------------ Callawonga-6 BPT* 75.00% PPL 220 COE 25.00% Oil Development C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets--------------------------------------------------------------- Report Time: 0600 hrs (CST) 7/01/2009 Namur SandstoneDepth: 1410m (TD) Operation: Well has been cased as a future McKinlay Member / Namur Sandstone oil producer. Progress: 475m ------------------------------------Well Participants------------------------------------ Gunyah-1 BPT* 75.00% PEL 92 COE 25.00% Oil Exploration C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 7/01/2009 Namur SandstoneDepth: 0m Operation: Rigging up. Progress: 0m ------------------------------------Well Participants------------------------------------ Kanowana-7 BPT 20.21% PPL 28 STO* 66.60% Gas Development ORG 13.19% C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (AEST) 7/01/2009 Tirrawarra SandstoneDepth: 3007m Patchawarra Fm (s)Operation: Drilling ahead in the Patchawarra Formation. Progress: 1643m ------------------------------------Well Participants------------------------------------ Spencer West-3 BPT 20.21% PPL 53 STO* 66.60% Oil Appraisal ORG 13.19% C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets--------------------------------------------------------------- Report Time: 0600 hrs (CST) 7/01/2009 McKinlay MemberDepth: 1726m (TD) Namur, Hutton (s)Operation: Preparing to run wireline logs. Progress: 239m ------------------------------------Well Participants------------------------------------ Tennaperra-2 BPT 30.00% PL 168 (Total 66) STO* 70.00% Oil Appraisal C/E Basin, SA ---------------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------------Report Time: 0600 hrs (CST) 7/01/2009 Hutton SandstoneDepth: 1494m Namur Sandstone (s)Operation: Drilling ahead in the Namur Sandstone. Progress: 1494m --------------------------------COAL SEAM GAS PROJECTS Location Participants--------------------------------PL 198 BPT 40% Coal Seam Develop't AOE* 60% Surat Basin, QLD --------------------------------------------------------------------Well Depth Operation: 0600hrs (EST) 7th January 2009--------------------------------------------------------------------Tipton- 146 250m routine rig maintenance; drilling to resume 12 January. * Operator(s) Secondary Targets COE Cooper Energy Resources MIT Mitsui E&P Australia AOE Arrow Energy NL DNX Dana Petroleum (E&P) Limited ORG Origin Energy Resources LTD BPT Beach Petroleum Ltd EPR Essential Peteroleum Resources Ltd STO Santos Limited
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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