BEACH ENERGY LIMITED — Capital/Financing Update 2012

Apr 10, 2012

ASX Announcement

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Growler-10 oil appraisal well gives Senex eleventh consecutive success at Growler oil field

Release Date: 11 April 2012

Senex Energy Limited (Senex), as operator of the PRL 15 joint venture in the South Australian Cooper Basin, has cased and suspended the Growler-10 oil appraisal well as a future oil producer after successfully intersecting a 15.2 metre gross oil column.

The Growler-10 appraisal well spudded on 27 March 2012 and reached a total depth of 1,850 metres on 7 April 2012. Wire line logs confirmed the presence of a 15.2 metres gross oil column in the Birkhead Formation over the interval 1,728.8 to 1,744.0 metres with interpreted net oil pay of at least 14.0 metres.

Growler-10 is the last of six appraisal wells to be drilled at Growler oil field as part of the recently expanded 14-well exploration and appraisal campaign for the 2011/12 financial year on the western flank of the Cooper Basin. Senex expects to commence production from Growler-10 during April.

Senex Managing Director Ian Davies said the positive result underscored the importance of Growler oil field to the company’s production profile going forward.

“Growler has proven to be an extremely prolific field for Senex. Production from the field will provide an important foundation for our increased production targets for the 2012/13 financial year, with the Growler to Moomba pipelines providing secure transportation irrespective of the weather,” he said.

Ensign Rig 48 will now move to the Tigercat-2 location in the adjacent PEL 104 to spud the joint venture’s fourth oil exploration well. After that, the rig will move to Snatcher oil field in PEL 111 to drill the Snatcher-4 appraisal well.

Senex holds a 60% interest in PRL 15, PEL 104 and PEL 111 and is the Operator of the joint ventures. The remaining 40% interest is held by Beach Energy Limited.

For further information contact:

Ian Davies Managing Director Senex Energy Limited Phone: (07) 3837 9900

Senex Energy Limited Head Office ABN 50 008 942 827 Level 11, 144 Edward St, Brisbane Qld 4000 T +61 7 3837 9900 GPO Box 2233, Brisbane Qld 4001 F +61 7 3837 9999

info@senexenergy.com.au senexenergy.com.au

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ASX Announcement

Figure 1: Location of Growler-10

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Senex Energy Limited Head Office ABN 50 008 942 827 Level 11, 144 Edward St, Brisbane Qld 4000 GPO Box 2233, Brisbane Qld 4001

T +61 7 3837 9900 F +61 7 3837 9999

info@senexenergy.com.au

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senexenergy.com.au