Beach Energy Limited (ASX:BPT) Received A$43.2 Million Contingent Payment For The Sale Of Tipton West Assets

Perth, Sep 6, 2010 AEST (ABN Newswire) - Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has received a A$43.2 million contingent payment from Arrow Energy (ASX:AOE) in relation to the sale of the Tipton West assets.

This now brings the total funds realised from the Tipton West transaction to A$383.3 million. In addition, Beach may receive further contingent payments up to A$26.8 million.

Beach's already strong financial position has been further enhanced by this latest payment, taking cash on hand to approximately A$200 million.

Contact

Reg Nelson / Hector Gordon Corporate Steve Masters / Nicola Frazer Investor Relations Beach Energy Limited Tel: +61-8-8338-2833 http://www.beachenergy.com.au