BEACH ENERGY – Monthly Drilling Report August 2016

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Western Flank Oil (Ex PEL 91: Beach 100%) Beach commenced its FY17 operated drilling program with the Hanson‐4 development well.  The well is located on the eastern culmination of the Hanson Field, approximately 85 kilometres west‐ northwest of the Moomba processing facility, and targeted oil bearing reservoirs in the Namur Sandstone and overlaying McKinlay Member.    The well also assessed potential for reservoir development in the Lower Birkhead Formation.  Hanson‐4 was cased and suspended as a future oil producer following intersection of approximately three metres of net pay in the Namur Sandstone and three metres of net pay in the McKinlay Member.    These results were in‐line with pre‐drill estimates.  The well is expected to be brought online in Q2 FY17.

Western Flank Oil (Ex PEL 92: Beach 75% and operator, Cooper Energy 25%) The Callawonga‐12 development well was drilled following a comprehensive review of the Callawonga Field.  The field is located approximately 80 kilometres west‐northwest of the Moomba processing facility and the review indicated potential for various development initiatives, including Callawonga‐12.    The well was drilled to accelerate production from the Namur Sandstone and overlaying McKinlay Member, as well as appraise the northeast flank of the field.  The top Namur Sandstone reservoir was intersected 2.4 metres high to prognosis, with wireline logs indicating two metres of net oil pay in the Namur Sandstone.  Callawonga‐12 was cased and suspended as a future oil producer and is expected to be brought online in Q2 FY17.

South Australian Gas   (Fixed Factor Area Joint Venture: Beach 20.21%, Santos 66.6% and operator, Origin 13.19%) A five‐well appraisal and development campaign progressed on the central flank of the Big Lake Field, which is located approximately 20 kilometres southeast of the Moomba processing facility.   The campaign aims to expand the central development area of the field and is targeting the Patchawarra Formation, Tirrawarra Sandstone and Merrimelia Formation, with the Epsilon Formation providing a secondary target.  The campaign includes Big Lake‐134, a standalone appraisal well, which was cased and suspended as a future Permian gas producer.  The well intersected net gas pay of 143 metres across a 681 metre gross Permian section.    Results were in line with pre‐drill estimates and confirmed down‐flank extension of gas reservoirs.  The remaining wells (Big Lake‐135 to ‐138 development wells) are being drilled from a single pad.  Surface holes for Big Lake‐136, to ‐ 138 were batched drilled and Big Lake‐135 is currently drilling ahead to total depth.

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