Beach Energy Limited (ASX:BPT) Monthly Drilling Report For June 2010
Adelaide, July 7, 2010 AEST (ABN Newswire) - As indicated in its ASX Release of 23 June, Beach Energy Limited (
ASX:BPT) (PINK:BEPTF) is now reporting on its routine drilling activities on a monthly rather than a weekly basis. Reporting will be made on the first Wednesday of each month. To meet its Listing Rule obligations, Beach will continue to make immediate disclosure to ASX of material issues, as required.
AUSTRALIA
Beach Operated Cooper-Eromanga Basin Oil
The upper of three Patchawarra Formation sands at Canunda-1 in PEL 106B (Beach 50%, Drillsearch 50%) was flow tested at an initial rate of 10.5 MMscf/d, with a condensate to gas ratio (CGR) of 180 bbls/ MMscf. With unexpectedly high CGR for the area, the flow has been restricted to 1-3 MMscf/d due to liquids storage and trucking constraints. Some 2500 barrels of condensate have been produced since testing of the upper zone commenced on 27 June. Testing is ongoing.
Cooper/Eromanga Oil Development - Santos Operated
The Inca-1 oil exploration well (Beach 30%) has been cased and suspended as a future Namur Sandstone and Birkhead Formation oil producer.
The Watson West-1 oil exploration well (Beach 38%) spudded on 5 July and is currently drilling ahead at a depth of 237 metres.
Cooper Basin Gas Development - Santos Operated
Coonatie-16 has been cased and suspended as a future multi-zone gas well. Coonatie-19 is drilling ahead in the Westbourne formation at a depth of 2111 metres. Coonatie-20 spudded on 6 June and is currently drilling ahead at a depth of 186 metres (Beach 17.14%).
INTERNATIONAL
Unconventional
Non-operated Oil Appraisal, South Antelope Prospect, Williston Basin - USA.
The Henderson 4-25H oil appraisal well reached a final total depth of 4865m MD (3320m TVD) and the rig was released on 27 June. Well-site shows throughout the reservoir target Three Forks Formation are encouraging and a multistage fracture stimulation will be undertaken as was planned predrill. (Beach [USA] Inc 23.15% contributing interest, 18.52% net revenue interest).
Upcoming Wells for July
Cooper/Eromanga Oil Development - Santos Operated
- Coonatie 18 gas development well (Beach 17.14%).
Drilling Report - Period ending 7th July 2010
--------------------------------------Well Participants--------------------------------------Inca-1 BPT 30.00%ATP259P STO* 70.00%Oil ExplorationC/E Basin, QLD--------------------------------------------------------------Weekly Progress & Summary Primary Targets--------------------------------------------------------------Report Time: 0600 hrs(CST)07/07/2010 Mid-NamurDepth: 1886.0m (TD) Birkhead Fm / Hutton SstOperation: Well is cased and suspended as a future Jurassic oil producer.Progress: 120.0m----------------------------------------------------------------------------------------------------Well Participants--------------------------------------Watson West-1 BPT 38.00%PL 35 STO* 56.00%Oil Exploration and othersC/E Basin, QLD--------------------------------------------------------------Weekly Progress & Summary Primary Targets--------------------------------------------------------------Report Time: 0600 hrs(AEST)07/07/2010 Birkhead Fm / Hutton SstDepth: 237mOperation: Drilling ahead in surface hole.Progress: 237m----------------------------------------------------------------------------------------------------Well Participants--------------------------------------Coonatie-16 BPT 17.14%PPL131 STO* 72.32%Gas Development ORG 10.54%C/E Basin, SA-------------------------------------------------------------Weekly Progress & Summary Primary Targets-------------------------------------------------------------Report Time: 0600 hrs(CST)07/07/2010 multi Permian targetsDepth: 3141.0m (TD)Operation: Well is cased and suspended as a future Permian gas producer.Progress: 617.0m----------------------------------------------------------------------------------------------------Well Participants--------------------------------------Coonatie-19 BPT 17.14%PPL131 STO* 72.32%Gas Development ORG 10.54%C/E Basin, SA--------------------------------------------------------------Weekly Progress & Summary Primary Targets--------------------------------------------------------------Report Time: 0600 hrs(CST)07/07/2010 multi Permian targetsDepth: 2111mOperation: Drilling ahead in Westbourne Formation.Progress: 2111m----------------------------------------------------------------------------------------------------Well Participants--------------------------------------Coonatie-20 BPT 17.14%PPL131 STO* 72.32%Gas Development ORG 10.54%C/E Basin, SA--------------------------------------------------------------Weekly Progress & Summary Primary Targets--------------------------------------------------------------Report Time: 0600 hrs(CST)07/07/2010 multi Permian targetsDepth: 186mOperation: Drilling ahead in surface hole.Progress: 186m--------------------------------------------------------------------------------------------------------Well Participants------------------------------------------Henderson 4-25H BPT** 23.15%Section 25 McKenzie County, SEA 24.02%Nth Dakota Helis* plus 7Oil Appraisal others 52.83%--------------------------------------------------------------Weekly Progress & Summary Primary Targets--------------------------------------------------------------Report Time: 0600 hrs(local)06/07/2010 Three Forks FormationDepth: 4865.0mMD (TD) Bakken FormationOperation: Rig released. Three Forks Formation to be fracture stimulated end July.Progress: 524.0m--------------------------------------------------------------
(*) Operator
Beach Energy Ltd (ASX:BPT) (PINK:BEPTF)
Beach Energy U.S.A Inc. (BPT**)
Sundance Energy Australia Ltd (ASX:SEA) (PINK:SDCJF)
(s) Secondary Targets
Santos Limited (ASX:STO) (PINK:STOSF)
Helis Oil & Gas Company L.LC (Helis)
Origin Energy Resources Ltd (ASX:ORG) (PINK:OGFGF)
Contact
Neil Gibbins
Chief Operating Officer
Tel: +61-8-8338-2833
Email: info@beachenergy.com.au
www.beachenergy.com.au
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