PEL 95 (Beach 50%)

PEL 95 lies on the southern flank of the Cooper Basin, immediately to the south of producing oil and gas fields in the Murteree Horst and Toolachee areas.

Beach drilled two wells, Aldinga-1 and Henley-1, in PEL 95 during 2002. Both wells recovered oil and Aldinga-1 was completed for oil production from the Cadna-Owie Formation. This well is still producing oil today. Seacliff-1 was drilled in late 2003, Myponga-1 and Noarlunga-1 were drilled during 2004 and Almonta-1 in 2005. All four were plugged and abandoned as dry holes. The initial 5-year permit term for PEL 95 was renewed in late 2006 with a mandatory 1/3 relinquishment of the original area. New seismic data was acquired in the northern portion of the permit in mid 2006.