Beach Energy Limited established oil and gas Exploration and Production Company Report

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Favoritearea.com news – Beach Energy Limited (ASX: BPT.AX) is a long established oil and gas Exploration and Production Company. Based in Adelaide, South Australia, the Company has oil and gas reserves of 66 million barrels of oil equivalent (at 30 June 2009), an annual production in the 2008/09 Financial Year of 9.6 million barrels of oil equivalent and an active exploration program within a balanced global portfolio of tenements.

Beach Energy Limited (ASX: BPT.AX) (PINK:BEPTF) announces weekly drilling report for the week ending 9 June 2010. Highlights of the week’s activities include:

Cooper/Eromanga Oil Development – Santos (ASX: STO.AX) Operated

The Genoa North-2 oil development well (Beach 30%) spudded on 3 June and is currently drilling ahead at a depth of 1811metres in the Basal Jurassic.

Non-operated Oil Appraisal, Williston Basin – U.S.A.

The Henderson 4-25H well spudded on 3 June, 2010 and is currently drilling ahead at 1932m. The well is in the South Antelope Prospect in the Williston Basin Bakken oil play, and is targeting potential oil reserves of approximately 450,000 barrels. Henderson 4-25H is to be drilled as a vertical well to approximately 3187m, where it will be deviated to drill a horizontal section through the primary target Three Forks Formation. Prognosed TD is 4872m MD [Beach (USA) Inc 23.15% contributing interest; 18.52% net revenue interest].

( * ) Operator
BPT Beach Energy Ltd
SEA Sundance Energy Inc (ASX: SEA.AX)
STO Santos Limited

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Well Participants
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Genoa North-2 BPT 30.00%
PL 68 STO* 70.00%
Oil Development
C/E Basin, QLD
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Weekly Progress & Summary Primary Targets
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Report Time: 0600 hrs (CST) 09/06/2010 Birkhead Fm /
Depth: 1811m Hutton Sst
Operation: Drilling ahead in Basal Namur Sandstone
Jurassic.
Progress: 1811m
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Well Participants
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Henderson 4-25H BPT 18.52%
Section 25 McKenzie SEA 24.02%
County, Nth Dakota, USA 8 others 57.46%
Oil Appraisal
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Weekly Progress & Summary Primary Targets
—————————————————————
Report Time: 0600 hrs (local) 08/06/2010 Three Forks Formation
Depth: 1932m Bakken Formation (s)
Operation: Drilling ahead in vertical
section.
Progress: 1932m

source : http://au.biz.yahoo.com/100609/42/2dis6.html

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