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Beach Energy Limited (ASX:BPT) Quarterly Activities Report to 30 September 2012.

Adelaide, Australia, Oct 30, 2012 - (ABN Newswire) - Beach Energy Limited (ASX:BPT) Quarterly Activities Report to 30 September 2012 with the following highlights:


- Farm-in to offshore Romanian tenements


- Production of 2.1 MMboe, sales volumes of 2.5 MMboe and total revenue of $170 million, all up 2% when compared with the previous quarter

- Participation in 20 wells with a success rate of 90%

- PEL 91 (Beach 40% and operator) Bauer oil field extended with four appraisal/development wells

- SACB JV (Beach 20.21%) Moomba-191 shale gas well flowed gas up to 3.0 MMscfd

- PEL 111 (Beach 40%) exploration success with Mustang-1, and Snatcher oil field expansion with three development wells

Subsequent Events

- Fracture stimulation of Moonta-1 well (Beach 100%) commenced on 26 October 2012

- SACB JV Moomba-191 shale gas well connected to Moomba infrastructure

- Initial interpretation of Halifax-1 well (Beach 60% and operator) encouraging, with 461 metres of REM and over 490 metres of Patchawarra Formation

- Windmill-1 exploration well in PEL 92 intersected oil in the Namur Sandstone and the Birkhead Formation

- Nomination of two new independent non-executive directors to the board


- Strong balance sheet, with cash reserves of $352 million and a multi-option financing facility of $150 million available

- Final dividend paid of 1.5 cents per share, resulting in full year dividend total of 2.25 cents

To view the full Quarterly Activities report, please visit:

About Beach Energy Limited:

Beach Energy Limited (ASX:BPT) is a long established oil and gas Exploration and Production Company, based in Adelaide, South Australia.

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Publication:ABN Newswire
Geographic Code:8AUST
Date:Oct 30, 2012
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