VIC /L26, L27, L28 (Beach 40%)

These three contiguous Licences cover the Basker, Manta and Gummy (BMG) oil and gas fields in the Gippsland Basin, offshore Victoria. Beach initially acquired a 25% interest in these permits in October 2004, increased its stake to 50% by January 2006, and sold down to 40% in June, 2007.

The Basker Field lies in 180m of water about 25km east of the Flounder production platform, and 75km SE of Lakes Entrance. The Basker-1 discovery well identified twelve oil and gas-bearing sandstones and tested oil at rates of 4967 bopd and 3270 bopd from separate intervals. Basker-2 was drilled in September 2005 and was subjected to an Extended Production Test over the period November 2005 to May 2006. During this period approximately 0.8 mmb of oil was produced and sold.

Four further development wells (Manta-2 and Basker 3, 4 & 5) were drilled and completed for oil production in the first half of 2006. Full Field production commenced in December 2006, but has been interrupted by a series of operational issues. During periods of production during 2007, the field has averaged around 11,000 bopd. Problems during July 2007 with the oil transfer system from the FPSO to the tanker restricted oil production, but repairs are expected to resolve the issue in October 2007.

An appraisal/development well is planned for early 2008 a further appraisal/development campaign of up to five wells is being prepared for mid-late 2008.