BEACH ENERGY LIMITED — M&A Activity 2012

Feb 9, 2012

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For Immediate Release – 10 February 2012 Ref. #008/12

The Manager Australian Securities Exchange Company Announcements Office 20 Bridge Street Sydney NSW 2000

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Dear Sir

Beach completes acquisition of Adelaide Energy through compulsory acquisition

Beach Energy Limited (ASX: BPT "Beach") announces it has acquired all of the outstanding shares in Adelaide Energy Limited (Adelaide Energy) through compulsory acquisition.

Beach acquired a relevant interest in Adelaide Energy of approximately 97% during the takeover offer period and, as a result, was able to move to compulsorily acquire the outstanding shares in Adelaide Energy it did not own. The purchase of the remaining outstanding shares was completed today.

Beach would like to acknowledge Mr Carl Dorsch, who stepped down as the Managing Director of Adelaide Energy on 31 January 2012, for the role he played in building Adelaide Energy to the company it was prior to the takeover. Beach and its staff wish Mr Dorsch the best for his future endeavours.

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