BEACH ENERGY LIMITED — M&A Activity 2012

May 20, 2012

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For Immediate Release – 21 May 2012 Ref. #057/12

ASX Ltd Companies Announcement Office Electronic Lodgement System

Dear Sir,

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BEACH TO ACCEPT COOPER OFF-MARKET TAKEOVER OFFER FOR SOMERTON IN ABSENCE OF HIGHER OFFER

Beach, as a majority shareholder of Somerton, advises that it will accept the off-market takeover offer by Cooper for Somerton in the absence of a higher offer.

Beach Energy Limited (ASX: BPT, “Beach”) advises that, in the absence of a higher offer, it will accept the off-market takeover offer by Cooper Energy Limited (ASX: COE, “Cooper”) for Somerton Energy Limited (ASX: SNE, “Somerton”).

Beach is yet to decide whether it will accept either the scrip and cash or the full scrip offer for its Somerton shares.

Yours sincerely,

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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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