BEACH ENERGY LIMITED — Capital/Financing Update 2012

Aug 2, 2012

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For Immediate Release – 3 August 2012 Ref. #077/12

ASX Ltd/SGX Singapore Exchange Ltd Companies Announcement Office Electronic Lodgement System

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Dear Sir,

EGYPTIAN OIL FLOWS FROM EPT IN EXCESS OF 2,500 BARRELS PER DAY

Extended production tests of the successful exploration wells in Abu Sennan, Egypt, commenced last week. The tests will continue for 6 months and to date have yielded a combined flow rate of up to 2,524 barrels of oil per day, with associated gas

Beach Energy Limited (ASX: BPT, “Beach”) advises that the extended production tests (EPT), on its four successful wells in the Abu Sennan concession (Beach 22%) in Egypt’s Western Desert, have commenced. The four wells, Al Ahmadi-1, GPZZ-4, Al Jahraa-1 and El Salmiya-1 flowed oil, gas and condensate during drill stem tests from various intervals, including the Abu Roash C, E, and G members and the Bahariya Formation.

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The combined maximum production rate achieved to date from the EPT was 2,524 barrels of oil per day, with associated gas.

The EPT is planned to continue for 6 months, which will enable the volume of hydrocarbons in place to be estimated. The EPT will also provide the basis for a development plan that will focus on the effective recovery of hydrocarbons within the various reservoirs.

A further three exploration wells have been approved by the Abu Sennan Joint Venture. The first of these wells, ASA-1X, spudded on 1 August 2012 and is targeting the GP-ZZ trend to the North East.

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ASX Release

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The Joint Venture equity interests in Abu Sennan are:

Beach (via wholly owned subsidiary Beach Petroleum (Egypt) Limited) - 22% Kuwait Energy PLC - 50% and operator

Dover Investments Limited - 28%

Yours sincerely, Reg Nelson Managing Director, FAusIMM

For more information contact

Corporate

Reg Nelson Beach Energy Ltd 08 8338 2833 Investor Relations Chris Jamieson Beach Energy Ltd 08 8338 2833

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