BEACH ENERGY LIMITED — M&A Activity 2009

Aug 16, 2009

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17 August 2009

Ref: #119/09

The Manager, Companies ASX Limited Companies Announcement Office Electronic Lodgement System

Dear Sir,

ANNOUNCEMENT TO ASX

Notice under ASX Listing Rule 3.3

Beach Petroleum Limited ACN 007 617 969 (Beach) gives notice that the takeover offer dated 15 June 2009 for all of the shares in Drillsearch Energy Limited ACN 006 474 844 (Drillsearch) not already held by Beach (Offer) closed on 14 August 2009.

In accordance with ASX Listing Rule 3.3, Beach gives notice that:

1. based on information available to Beach as at the time of filing this notice, Beach and its associates have a relevant interest in 22.79% of the issued Drillsearch shares at the close of the Offer; and

2. compulsory acquisition of the remaining Drillsearch shares that Beach does not hold will not proceed.

Yours faithfully,

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Bob Kennedy Chairman

25 Conyngham Street, Glenside South Australia 5065 GPO Box 175 Adelaide 5001 Telephone (618) 8338 2833 Facsimile (618) 8338 2336 Beach Petroleum Ltd ABN 20 007 617 969 www.beachpetroleum.com.au