BEACH ENERGY LIMITED — Capital/Financing Update 2013

May 1, 2013

==> picture [120 x 113] intentionally omitted <==

Level 10, 60 Waymouth Street Adelaide SA 5000 GPO Box 1819 Adelaide SA 5001 Tel: +61 8 8100 4900 Fax: +61 8 8100 4977

customerservice@cooperenergy.com.au www.cooperenergy.com.au

ASX Announcement / Media Release

2 May 2013

PEL 92 Drilling Update

Wyomi-1

Cooper Energy Limited (ASX: COE) reports that Wyomi-1, an exploration well in PEL 92 on the western flank of the Cooper Basin, has been plugged and abandoned after reaching a total depth of 1816m and failing to record any significant hydrocarbon shows.

Cooper Energy Executive Director, Mr Hector Gordon, said that Wyomi-1 had been drilled to assess the western-most structural trend of PEL 92 in advance of the requirements to relinquish 50% of the permit in November 2013.

Mr Gordon said “Wyomi-1 and Sharples-1, which was drilled earlier in the program, have improved our understanding of the limits of the productive Jurassic oil fairway of the western flank of the Cooper Basin and provided valuable information for the decisions that will be made on relinquishment later this year.”

The drilling rig has been released from Wyomi-1 to drill two development wells, Callawonga-7 and Callwonga-8, for the purpose of accelerating production from the Callawonga oil field.

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

Further comment and information:

Hector Gordon Executive Director - Exploration and Production +61 8 8100 4900

==> picture [594 x 45] intentionally omitted <==

PEL-92 Cooper Basin

==> picture [469 x 450] intentionally omitted <==

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 KSO 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.

www.cooperenergy.com.au

==> picture [596 x 45] intentionally omitted <==