BEACH ENERGY LIMITED — Management Reports 2013

May 7, 2013

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For Immediate Release – 8 May 2013 Ref. #027/13

ASX Ltd/SGX Singapore Exchange Ltd Companies Announcement Office Electronic Lodgement System

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April 2013
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HIGHLIGHTS

• Two rigs drilling for oil on the Western Flank

• Kalladeina-2 discovery well flows oil at 986 barrels per day in PEL 91

• Rincon North-1 discovers seven metre oil column in PEL 92

AUSTRALIA

Operated Cooper Basin Unconventional Gas Program

PEL 218 (Beach 100%)

Dashwood-1, the sixth well in the current vertical exploration program in PEL 218 of up to eight wells, reached a total depth of 4,021 metres and wireline logs are currently being run prior to the well being cased for future fracture stimulation.

Boston-2, spudded on 8 April, is a vertical well that is drilling ahead at 3,555 metres. The well is 320 metres from Boston-1, and will be used for recording downhole micro-seismic observations when Boston-1 is fracture stimulated around the middle of the year. The micro-seismic monitoring is a continuation of the detailed and comprehensive data gathering that will underpin the assessment of the commercial potential of the Nappamerri Trough unconventional gas play.

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Monthly Drilling Report –April 2013

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Operated Cooper-Eromanga Oil – Western Flank

A second rig has joined the oil drilling campaign in the Western Flank region. In PEL 92 (Beach 75% and operator, Cooper Energy 25%), three wells have been drilled since the last report. Rincon North1 was cased and suspended after intersecting a seven metre oil column within the McKinlay/Namur reservoir interval in a prospect about 1.5 kilometres north of Rincon-1. Sharples-1 and Wyomi-1 were plugged and abandoned after failing to encounter hydrocarbons. The rig is presently drilling Callawonga-7, the first of two wells designed to further develop the Callawonga oil field and to assess the potential for further infill drilling.

In PEL 91 (Beach 40% and operator, Drillsearch Energy 60%), Kalladeina-2 discovered an eight metre gross oil column in the Namur Sandstone and McKinlay Member, and tested oil at a rate of 986 barrels of oil per day from the McKinlay zone. The well has been cased and suspended as a future producer. Subsequently, Smoky-1, the most northerly exploration well to be drilled in PEL 91 to date, was plugged and abandoned after no significant hydrocarbons were encountered.

Santos Operated Cooper Basin Oil and Gas Exploration and Development

The gas development program in Queensland (Beach 23.20%) continues with Lepard-2 and Psyche-7, which were cased and suspended for future production.

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Monthly Drilling Report –April 2013

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In the South Australian Cooper Basin JV gas development (Beach 20.21%), Cowralli-22 and -23 were cased and suspended as the first of sixteen deviated development wells planned for the Cowralli field from two multi-well surface pads. One rig is set up on site and is currently drilling Cowralli-24 and a second rig is rigging up to drill Cowralli-14.

The Van der Waals-1 unconventional gas exploration well spudded early in the month and is drilling ahead at a depth of 2,449 metres. This well is further testing the Nappamerri Trough deep unconventional gas potential.

INTERNATIONAL

Kuwait Energy Operated – Abu Sennan Concession, Egypt (Beach 22%)

El Salmiya-2 is currently drilling ahead at 3,270 metres after setting 9[5/8] ” casing at 3,165 metres. The well is being drilled to appraise reservoirs in the Abu Roash “C” and “E” Members which flowed at combined rates of 2,900 bopd and 16MMscfd in the El Salmiya-1 discovery well drilled in 2012.

Elsewhere in the permit, ASB-1X is at 662 metres and is drilling ahead to the casing point at 730 metres. This well is testing a prospect that has Late Cretaceous and Jurassic exploration targets.

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Monthly Drilling Report –April 2013

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Drilling Report - Period ending Wednesday 8th May 2013

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Well	Participants	Progress & Summary	Primary Targets
Christies-7	BPT* 75.00% COE 25.00%	Report Time: Depth: Operation: Progress: 0600 hrs (CDT) 08/05/2013 677m Drilling ahead. 677m	Namur Sandstone, Birkhead Formation, Poolowanna Formation
PEL 92 Oil Exploration C/E Basin,SA
Wyomi-1	BPT* 75.00% COE 25.00%	Report Time: Depth: Operation: Progress: 0600 hrs (CDT) 08/05/2013 1916m (TD) well is plugged and abandoned. 1916m	Namur Sandstone, Birkhead Formation
PEL 92 Oil Exploration C/E Basin,SA
Smoky-1	BPT* 40.00% DLS 60.00%	Report Time: Depth: Operation: Progress: 1865.8m 0600 hrs (CDT) 08/05/2013 1865.8m (TD) Well is plugged and abandoned	Namur Sandstone, Birkhead Formation Hutton Formation, Poolowanna Formation
C/E Basin,SA PEL 91 Oil Exploration
Sharples-1	BPT* 75.00% COE 25.00%	Report Time: Depth: Operation: Progress: 1916m 0600 hrs (CDT) 08/05/2013 1916m (TD) well is plugged and abandoned.	Namur Sandstone, Birkhead Formation
C/E Basin,SA PEL 92 Oil Exploration
Rincon North-1	BPT* 75.00% COE 25.00%	Report Time: Depth: Operation: Progress: 0600 hrs (CDT) 08/05/2013 1899m (TD) Well is completed as a future Namur Sandstone oil producer. 1899m	Namur Sandstone, Birkhead Formation
PEL 92 Oil Exploration C/E Basin,SA
Kalladeina-2	BPT* 40.00% DLS 60.00%	Report Time: Depth: Operation: Progress: Well is cased and suspended as a future McKinlay 522m Member and Namur Sandstone oil producer. 0600 hrs (CDT) 08/05/2013 1992m (TD)	Namur Sandstone
Oil Exploration C/E Basin,SA PEL 91
Boston-2	BPT 100.00%	Report Time: 0600 hrs (CDT) 08/05/2013	Roseneath Shale,
PEL 218 Shale Gas Exploration Cooper,SA		Depth: 3555m	Epsilon Formation,
		Operation: Drilling ahead.	Murteree Shale, Patchawarra Formation, Toolachee Formation.
		Progress: 3555m
Dashwood-1	BPT 100.00%	Report Time: 0600 hrs (CDT) 08/05/2013	Roseneath Shale,
PEL 218 Shale Gas Exploration Cooper,SA		Depth: 4021m (TD)	Epsilon Formation,
		Operation: Progress: Well is cased and suspended for future evaluation. 1488m	Murteree Shale, Patchawarra Formation, Toolachee Formation.
Moomba 192	BPT 20.21%	Report Time: 0600 hrs (CDT) 08/05/2013	Roseneath Shale,
PPL 7	STO* 66.60%	Depth: 2980m (TD)	Epsilon Formation,
Gas Expl/Appraisal C/E Basin,SA	ORG 13.19%	Operation: Progress: 2980m Cased and suspended as a future Permian gas producer.	Murteree Shale, Patchawarra Formation, Toolachee Formation.
Van Der Waals-1	BPT 20.21%	Report Time: 0600 hrs (CDT) 08/05/2013	Roseneath Shale,
PPL 13	STO* 66.60%	Depth: 2449m	Epsilon Formation,
Gas Appraisal C/E Basin,SA	ORG 13.19%	Operation: Progress: Running in hole with fishing assembly. 2449m	Murteree Shale, Patchawarra Formation, Toolachee Formation.
Psyche-7	BPT 23.20%	Report Time: 0600 hrs (CDT) 08/05/2013	Patchawarra Formation,
PL 150	STO* 60.06%	Depth: 2209m (TD)
Gas Development C/E Basin,QLD	ORG 16.50% APL 0.24%	Operation: Progress: 2209m Cased and suspended as a future Permian gas

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Monthly Drilling Report –April 2013

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Cowralli-24	BPT 20.21%	Report Time: 0600 hrs (CDT) 08/05/2013	Patchawarra Formation,
PL 91	STO* 60.06%	Depth: 2765m	Tirrawarra Formation.
Gas Development C/E Basin,SA	ORG 13.19%	Operation: Progress: 2765m Drilling ahead.
Cowralli-23	BPT 20.21%	Report Time: 0600 hrs (CDT) 08/05/2013	Patchawarra Formation,
PL 91	STO* 60.06%	Depth: 3347m (TD)	Tirrawarra Formation.
C/E Basin,SA Gas Development	ORG 13.19%	Operation: Progress: 3347m Well is cased and suspended as a future Permian gas gas producer.
Cowralli-22	BPT 20.21%	Report Time: 0600 hrs (CDT) 08/05/2013	Patchawarra Formation,
PL 91	STO* 60.06%	Depth: 3278m (TD)	Tirrawarra Formation.
C/E Basin,SA Gas Development	ORG 13.19%	Operation: Progress: 507m Well is cased and suspended as a future Permian gas gas producer.
Lepard-2	BPT 23.20%	Report Time: 0600 hrs (CDT) 08/05/2013	Patchawarra Formation,
PL 255	STO* 60.06%	Depth: 2872m (TD)	Tirrawarra Formation.
Gas Development C/E Basin,QLD	ORG 16.50% APL 0.24%	Operation: producer. Progress: 2008m Well is cased and suspended as a future Permian gas
El-Salmiya-2	BPT 22.00%	Report Time: 0600 hrs (local) 07/05/2013	Abu R'sh C, E, G
Abu Sennan	KEE* 50.00%	Depth: 3270m	Bahariya
Oil Development Egypt,Western Desert	DOV 28.00%	Operation: Drilling ahead. Progress: 3270m
ASB-1X	BPT 22.00%	Report Time: 0600 hrs (local) 07/05/2013	Abu R'sh C, E, G
Abu Sennan	KEE* 50.00%	Depth: 662m	Bahariya, Khatatba
Egypt,Western Desert Oil Exploration	DOV 28.00%	Operation: Progress: Drilling ahead. 662m
ORG Origin Energy Resources STO Santos Limited DLS Drill Search DOV Dover Investments APL Australian Pacific LNG COE Cooper Energy KEC Kuw ait Energy TOE Tri Ocean Energy BP British Petroleum Egypt BPT Beach Energy Ltd ( * ) Operator

Drilling Report – Period ending 8 May 2013

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Neil Gibbins Chief Operating Officer

For more information contact

Corporate

Reg Nelson Beach Energy Limited +61 8 8338 2833 Neil Gibbins Beach Energy Limited +61 8 8338 2833 Investor Relations Chris Jamieson Beach Energy Limited +61 8 8338 2833

Investor Relations

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