Beach Petroleum Announces New Field Oil Discovery at Marcoola-1

Beach Petroleum Announces New Field Oil Discovery at Marcoola-1

Beach Petroleum has advised that Marcoola-1 located in ATP 269P in the Queensland portion of the Eromanga Basin is a New Field Oil Discovery. DST 1 conducted this morning over the interval 1208.5m-1220m in the Hutton Sandstone flowed for 20 minutes before the packers failed. A total of 6 barrels of oil was reversed out of the test string. There was no evidence of water. Further evaluation of the well will be undertaken over the next few days. JV participants in the Maroola-1 well are: Beach Petroleum (Operator) 46.95%, Entek Energy 28.15%, Inland Oil Production 20.00% and Santos 4.90%.

Original Announcement: Marcoola-1 New Field Oil Discovery

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