Printer Friendly

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:

Corporate

- Farm-in to offshore Romanian tenements

Operations

- 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

Financial

- 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:

http://media.abnnewswire.net/media/en/docs/ASX-BPT-703251.pdf

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.

Copyright 2012 ABN Newswire

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2012 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:ABN Newswire
Geographic Code:8AUST
Date:Oct 30, 2012
Words:279
Previous Article:Rum Jungle Resources Limited (ASX:RUM) Quarterly Activities Report.
Next Article:Oil Basins Limited (ASX:OBL) 2012 Annual Report to shareholders.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters