BPT 1.28% $2.38 beach energy limited

First Quarter Activities Report

  1. 4,756 Posts.
    First Quarter Activities Report

    BEACH PETROLEUM NL 2002-10-21 ASX-SIGNAL-G

    HOMEX - Adelaide

    +++++++++++++++++++++++++
    HIGHLIGHTS

    * NEW COMMERCIAL OIL DISCOVERIES IN COOPER BASIN

    * SELLICKS-1 SCHEDULED FOR PRODUCTION IN NOVEMBER 2002

    * THREEFOLD IMPROVEMENT IN PRODUCTION

    * BODALLA BLOCK PERFORMANCE IMPROVED WITH RESERVES UPGRADED BY 10%

    * REVENUE FROM SALES FOR Q1 OF $7.72 MILLION (50.5% OF FULL YEAR
    FIGURE OF $15.3 MILLION FOR 2001-02)

    * UNAUDITED AVERAGE NET CASH FLOW FROM OPERATIONS OF $1.8 MILLION PER
    MONTH FOR Q1 OF 2002 - 03

    * DIVIDEND OF 0.5 CENTS PER FULLY PAID ORDINARY SHARE DECLARED FOR
    2001-02

    * DRILLING PROGRAM OF AT LEAST EIGHT WELLS PLANNED FOR
    COOPER/EROMANGA DURING Q2 TO Q4 OF 2002 - 03.

    MORE TO FOLLOW

    >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

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