BEACH ENERGY LIMITED — Capital/Financing Update 2012

Oct 8, 2012

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288 – 292 Churchill Avenue Subiaco WA 6008

PO Box 1281 Subiaco WA 6904 Tel: +61 8 9489 3777 Fax: +61 8 9489 3799 admin@cooperenergy.com.au www.cooperenergy.com.au

ASX Announcement/ Media Release COE091012a

Tuesday 9 October 2012

Oil Discovery at Windmill-1

Cooper Energy Limited (ASX: COE ) is pleased to report that the Windmill-1 exploration well, in PEL 92 on the western flank of the Cooper Basin, has discovered oil in the Namur Sandstone and Birkhead Formation.

The well, reached a total depth of 2,100 metres at 3:30am 8 October 2012, and since that time wireline logs have been acquired.

Cooper Energy Executive Director, Hector Gordon said “Windmill-1 is a good success for the PEL 92 Joint Venture, with a 6 metre net oil column in the Namur sandstone and some interesting indications of oil within the Birkhead formation. Over the coming days we will further evaluate the Birkhead through a wireline pressure survey and possibly a drill stem test.”

Joint Venture participants in PEL 92 are Cooper Energy (25%) and Beach Energy Limited (Operator) (75%).

Hector Gordon Executive Director, Exploration and Production Cooper Energy Ltd. Phone +61 (0)8 8100 4900

About Cooper Energy Limited (“Cooper”)

Since listing on the ASX in 2002, Cooper has built a portfolio of near term low risk development and appraisal projects as well as high impact exploration prospects. Cooper currently benefits from approximately 500,000 barrels of oil production per year from the Cooper Basin, South Australia, with approximately 150 barrels of oil per day gross production from its Sukananti field in Indonesia. Cooper also has prospective exploration licenses in Australia (Cooper, Otway and Gippsland Basins), Tunisia and Indonesia. Cooper enjoys a solid balance sheet, good production earnings, and has a clear strategy to enhance shareholder return built primarily around its core assets in the Cooper and Otway basins and Tunisia.

www.cooperenergy.com.au

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