BEACH ENERGY LIMITED — Major Shareholding Notification 2009

Aug 23, 2009

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24 August 2009

Ref: #132/09

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

Dear Sir,

ANNOUNCEMENT TO ASX

Drillsearch Energy Limited – off-market takeover bid by

Beach Petroleum Limited

In accordance with ASX Listing Rule 3.4.1, Beach Petroleum Limited ( Beach ) provides the following information:

• a) a distribution schedule of Beach securities in accordance with ASX Listing Rule 4.10.7; and

• b) the names of, and percentages held by, the 20 largest holders of securities in Beach in accordance with ASX Listing Rule 4.10.9.

The information provided in this notice is current as at the close of market on 18 August 2009.

Yours faithfully,

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Cathy Oster Company Secretary

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

Page 2 of 3

NO OF SHAREHOLDERS LR 4.10.7

          1        1001        5001       10001       50001      100001
         to          to          to          to          to          to
        1000        5000       10000       50000      100000       (MAX)
Holders
        4846       10944        6357        7952         996         613

20 LARGEST SHAREHOLDERS HOLDERS - LR 4.10.9
HOLDER..................................................NO OF SHARES....%
NATIONAL NOMINEES LIMITED                               139,778,446    13.34         1
J P MORGAN NOMINEES AUSTRALIA LIMITED                   119,104,928    11.37         2
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED               113,238,387    10.81         3
CITICORP NOMINEES PTY LIMITED                            49,408,137     4.72         4
ANZ NOMINEES LIMITED <CASH INCOME ACCOUNT>               23,178,110     2.21         5
AMP LIFE LIMITED                                         13,803,178     1.32         6
RBC DEXIA INVESTOR SERVICES AUSTARLIA
 NOMINEES PTY LTD <BK CRUST A/C>                         10,843,435     1.03         7
ANZ NOMINEES LIMITED <INCOME REINVEST PLAN A/C>           9,703,952     0.93         8
CITICORP NOMINEES PTY LIMITED
 <CSFIL CFS WS SMALL COMP A/C                             9,047,423     0.86         9
CITICORP NOMINEES PTY LIMITED <
CFS FUTURE LEADERS FUND A/C>                              7,978,162     0.76        10
UBS NOMINEES PTY LTD                                      7,862,123     0.75        11
COGENT NOMINEES PTY LIMITED                               7,434,624     0.71        12
QUEENSLAND INVESTMENT CORPORATION                         7,427,578     0.71        13
RBC DEXIA INVESTOR SERVICES AUSTRALIA
 NOMINEES PTY LTD <GSJBW A/C>                             6,969,590     0.67        14
SUNRISE INVESTMENT MANAGEMENT PTY LTD                     6,376,523     0.61        15
BOND STREET CUSTODIANS LIMITED
 <MACQUARIE SMALLER CO'S A/C>                             5,539,803     0.53        16
PAN AUSTRALIAN NOMINEES PTY LTD                           4,149,489     0.40        17
HSBC CUSTODY NOMINEES (AUSTRALIA) LTD A/C 2               3,696,313     0.35        18
MATHEWS CAPITAL PARTNERS PTY <SABRE FUND A/C>             3,462,589     0.33        19
CITICORP NOMINEES PTY LIMITED
 <CFSIL CWLTH AUST SHS 23 A/C>                            3,148,707     0.30        20

Page 3 of 3

NO OF LISTED OPTION HOLDERS LR 4.10.7

* TOTAL *
                      to          to          to          to          to          to
                    1000        5000       10000       50000      100000       (MAX)
   Holders

20 LARGEST LISTED OPTION HOLDERS - LR 4.10.9
HOLDER                                                     NO OF OPTIONS  %
PAN AUSTRALIAN NOMINEES PTY                               3,168,899     3.09         1
J P MORGAN NOMINEES AUSTRALIA                             3,081,593     3.00         2
 LIMITED
ANZ NOMINEES LIMITED                                      2,126,379     2.07         3
<CASH INCOME A/C>
RBC DEXIA INVESTOR SERVICES                               1,782,259     1.74         4
 AUSTRALIA NOMINEES PTY LIMITED <GSJBW A/C>
CITICORP NOMINEES PTY LIMITED                             1,598,152     1.56         5
PINEHURST NOMINEES PTY LTD                                1,500,000     1.46         6
HSBC CUSTODY NOMINEES                                     1,306,266     1.27         7
(AUSTRALIA) LIMITED
MR RODNEY WILLIAM BANKS                                   1,218,510     1.19         8
NUSANTARA PTY LIMITED                                     1,176,120     1.15         9
NATIONAL NOMINEES LIMITED                                 1,142,277     1.11        10
MR LAURENCE CHARLES KIRK                                  1,000,000     0.98        11
XAPPS PTY LIMITED                                         1,000,000     0.98        12
 <SS SUPERANNUATION FUND A/C>
BUTTONWOOD NOMINEES PTY LTD                                 927,009     0.90        13
MR TINO LUI ANDRIGHETTO &                                   759,836     0.74        14
 MRS HENRIETTA WILHELMINA MARIA ANDRIGHETTO
BONORD PTY LTD                                              700,000     0.68        15
 <CW HULLS & CO S/F A/C>
MS SHARON MELANIE DOWLING &                                 700,000     0.68        16
 MR RODNEY WILLIAM BANKS <MELROD SUPERANNUATION A/C>
MR STIG HAKAN HELLSING                                      700,000     0.68        17
MR THOMAS SETON THORNE &                                    700,000     0.68        18
 MRS CHRISTINE MARIA THORNE
MR MARK PETER JACKSON                                       683,950     0.67        19
UBS NOMINEES PTY LTD                                        626,544     0.61        20