Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week Ending 3 March 2010

Beach Energy Limited (ASX:BPT) Weekly Drilling Report Week Ending 3 March 2010

Adelaide, Mar 3, 2010 AEST (ABN Newswire) - Beach Energy Limited (

PINK:BEPTF) drilling report for the week ending 3 March, 2010. Highlights of the week's activities include:

Egypt - North Shadwan Concession - Gulf of Suez

The Nafta-1 rig has been released from the NS377-5 oil field development well location. The ESP has been successfully commissioned and the well was pumped to clean up for approximately two hours at a steady rate of 2500 bfpd. The well results increase the confidence that an initial combined rate in excess of 3,000 bopd can be achieved when the NS377-3 and NS377-5 wells are brought on line later this year (Beach 20%).

Arrowie Basin (South Australia) - Paralana-2 Geothermal Well

Temperature measurements have been undertaken at the Paralana-2 geothermal well. The temperature measured at 3,674 metres using a maximum recording thermometer is 1760C, which exceeds the minimum temperature of 1700C targeted for the development of the Paralana resource (Beach earning 21%).

Cooper/Eromanga Basin Exploration and Development

Drilling Operations in the Cooper/Eromanga remain suspended following the heavy rainfalls in the basin. Operations will resume as soon as roads in the basin become accessible.

--------------------------------------Well                    Participants--------------------------------------NS 377-5                BPT     20.00%Oil Development         BP*     50.00%North Shadwan           TOE     30.00%Egypt--------------------------------------------------------------Weekly Progress & Summary              Primary Targets--------------------------------------------------------------Report Time: 0600 hrs(local)2/03/2010  Kareem FormationDepth:       2909m (TD)Operation:   Rig has been released following the successful             commissioning of Electric Submersible Pump (ESP).Progress:    0m--------------------------------------Well                    Participants--------------------------------------Coonatie-16             BPT     17.14%PPL 131                 STO*    72.32%Gas Development         ORG     10.54%C/E Basin, SA-----------------------------------------------------------Weekly Progress & Summary             Primary Targets-----------------------------------------------------------Report Time: 0600 hrs(CST)3/03/2010   multi Permian targetsDepth:       1132mOperation:   Waiting on weather.Progress:    0m( * )  Operator(s)    Secondary TargetsBPT    Beach Energy Ltd (ASX:BPT)ORG    Origin Energy Resources Ltd (ASX:ORG)BP     BP Exploration (Delta) (LON:BP)TOE    TriOcean EnergySTO    Santos Limited (ASX:STO)