Beach Petroleum Limited (ASX:BPT)
Adelaide, July 22, 2009 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) announces the drilling report for the week ending 22 July, 2009. Highlights of the week's activities include:
Beach Petroleum Operated Cooper / Eromanga Exploration (PEL 92)
Willunga-1 (Beach 75%) has been plugged and abandoned after wireline logs confirmed the absence of commercial volumes of hydrocarbons in the well. The Ensign 30 rig is being moved to the Murninnie-1 well site, located 14 kilometres north of the Parsons Oilfield. Murninnie-1 will be addressing mean recoverable oil reserves of 0.8 mmb and a P10 or high side potential of 1.8 mmb (recoverable).
Arrowie Basin (South Australia) - Paralana-2 Geothermal Exploration Well
The Paralana-2 geothermal exploration well (Beach earning 21%) is drilling ahead at a depth of 796 metres.
Browse Basin, Offshore Western Australia - Burnside 1ST1 Gas Exploration Well
Burnside-1ST1 (Beach 7.34%) is at a depth of 3823 metres. The current operation is preparing to run 9 5/8" casing.
Basker - Manta - Gummy (BMG) Oil Field Development - Gippsland Basin
The Ocean Patriot semisubmersible rig has successfully completed its workover operations on Basker-3 and is now moving to the Basker-7 development well location (Beach 30%).
---------------------------------Well Participants---------------------------------Willunga-1 BPT* 75.00%PEL 92 COE 25.00%Oil ExplorationC/E Basin, SA---------------------------------------------------------Weekly Progress & Summary Primary Targets---------------------------------------------------------Report Time: 0600 hrs (CST)22/07/2009 Namur SandstoneDepth: 1757m (TD) Birkhead FormationOperation: Well has been plugged and abandoned. Ensign 30 rig is being moved to Murninnie-1 location.Progress: 837m--------------------------------------Well Participants--------------------------------------Paralana-2 BPT* 21.00%GEL 178 PTR 69.00%Geothermal Exploration TRU 10.00%Arrowie Basin, SA-------------------------------------------------------Weekly Progress & Summary Primary Targets-------------------------------------------------------Report Time: 0600 hrs (CST)22/07/2009 Upper CannanaDepth: 796m or Bolla BollanaOperation: Drilling ahead.Progress: 87m---------------------------------Well Participants---------------------------------Burnside-1ST1 BPT 7.34%WA 281P (offshore) STO* 47.83%Gas Exploration IBL 20.00%Browse Basin, WA CVX 24.83%--------------------------------------------------------Weekly Progress & Summary Primary Targets--------------------------------------------------------Report Time: 0600 hrs (WST)22/07/2009 Lower CretaceousDepth: 3823m sandsOperation: Preparing to run 9 5/8" casing.Progress: 1503m---------------------------------Well Participants---------------------------------Psyche-6 BPT 23.20%PL 241 STO* 60.06%Gas Development ORG 16.74%C/E Basin, QLD----------------------------------------------------------Weekly Progress & Summary Primary Targets----------------------------------------------------------Report Time: 0600 hrs (CST)22/07/2009 Toolachee FormationDepth: 2205m (TD)Operation: Well has been cased and suspended as a future Toolachee Formation gas producer.Progress: 349m* Operator(s) Secondary TargetsASX:BPT Beach Petroleum LtdASX:PTR Petratherm LtdASX:COE Cooper EnergyASX:STO Santos LimitedASX:ORG Origin Energy Resources LtdCVX - Chevron Australia Pty LtdTRU - TRUenergy Pty LtdIBL - INPEX Browse, Ltd.----------------------------------------
Contact
Hector Gordon
Chief Operating Officer
TEL: +61-8-8338-2833
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