BPT 1.28% $2.38 beach energy limited

Hydrocarbon shows already

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    BEACH PETROLEUM NL 2002-08-15 ASX-SIGNAL-G

    HOMEX - Adelaide

    +++++++++++++++++++++++++
    DRILLING REPORT: MASLINS-1
    (PEL-94, COOPER/EROMANGA BASIN, S A)

    Beach Petroleum advises that the status of Maslins-1 at 0600 hours
    (CST) on 15 August 2002 was:

    Depth: 1086.6 metres

    Operation: Preparing to conduct a DST over 1067-1086.6m in the
    Murta Formation following indications of hydrocarbons
    whilst drilling.

    The results of this test will be communicated to the market when they
    become available.

    Participants in the PEL 94 Joint venture are:

    Beach Petroleum NL (Operator) 50%
    Magellan Petroleum Australia Ltd 50%


    R Nelson
    MANAGING DIRECTOR


    Level 1, 25 Conyngham Street, Glenside South Australia 5065
    GPO Box 175 Adelaide 5001
    Telephone (618) 8338 2833
    Facsimile (618) 8338 2336
    Beach Petroleum NL
    ABN 20 007 617 969
    www.beachpetroleum.com.au


    A copy of the full announcement (with Time Depth Chart) is available
    in PDF format on www.asx.com.au. Alternatively it is available for
    purchase from ASX Customer Service on 1 300 300 279
 
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