BEACH ENERGY LIMITED — Management Reports 2017

Feb 28, 2017

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Monthly Drilling Report

Release Date: 1 March 2017

Senex drilled two exploration wells in the northern Cooper Basin during February, following the successful drilling of development and appraisal wells at the Worrior and Spitfire fields. The multi-well exploration campaign is being undertaken in PEL 182, approximately 25 kilometres northeast of producing fields in ex PEL 104/111. The campaign was defined by the Jasmine 3D seismic survey to test the extent of hydrocarbon migration to the north of the western flank through an under-explored area of the Cooper Basin.

Sparta-1 oil exploration well (PEL 182: Senex 57% and operator)

The Sparta-1 well was drilled to target a four-way dip structural closure in the Namur Sandstone. The well reached total depth of 2,227 metres on 10 February 2017 and encountered oil shows and tight reservoir quality in the Birkhead Formation, indicating the migration of hydrocarbons through the area. The well was plugged and abandoned due to insufficient commercial pay.

Hoplite-1 oil exploration well (PEL 182: Senex 57% and operator)

In the same permit Hoplite-1 is targeting the Namur Sandstone, Birkhead and Murta Formations. The well reached a total depth of 2,200 metres on 26 February, encountering good oil shows in the Birkhead Formation and elevated gas readings across the same interval. Logging results have indicated gross pay of 17 metres in the Birkhead Formation. A drill stem test will be undertaken across this interval to obtain additional data. The Hoplite-1 result is highly encouraging for current and future Birkhead play fairway activity, as the well is located approximately 25 kilometres northeast of the Senex operated Snatcher field.

Senex expects to drill a third exploration target in PEL 182 during the fourth quarter of FY17, once results from the first two wells have been reviewed. The map on the following page shows the location of the above wells and drilling locations.

DRILLING FOR THE MONTH ENDED 28 FEBRUARY 2017

Well details	Working interest*Operator	Status of operations	Horizon targets
Sparta-1PEL 182Oil exploration wellSouth AustralianCooper Basin	SXY*57%BPT43%	**Report time:**0600 (CST) 01/03/2017**Total depth:**2,227 mActivity:Plugged and abandoned	Namur Sandstone
Hoplite-1PEL 182Oil exploration wellSouth AustralianCooper Basin	SXY*57%BPT43%	**Report time:**0600 (CST) 01/03/2017**Total depth:**2,200 mActivity:Testing in progress	Namur Sandstone, MurtaFormation, Birkhead Formation
Senex EnergyLimitedABN 50 008 942 827ASX : SXYHead OfficeLevel 14, 144 Edward St, Brisbane Qld 4000GPO Box 2233, Brisbane, Qld, Australia 4001Phone+61 7 3335 9000Facsimile+61 7 3335 9999Webwww.senexenergy.com.auPage 1 of 2SXY – Senex Energy Limited (ASX:SXY) BPT – Beach Energy Limited (ASX:BPT)

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Senex drilling activity for February 2017

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FURTHER INFORMATION

Investor Enquiries: Ian Davies Tess Palmer Managing Director Investor Relations Manager Senex Energy Limited Senex Energy Limited Phone: (07) 3335 9000 Phone: (07) 3335 9719

Media Enquiries: Rhianne Bell Corporate Communications Manager Senex Energy Limited Phone: (07) 3335 9859

ABOUT SENEX ENERGY

Senex is a growth focused exploration and production company based in Brisbane. With a 30-year operating history, Senex holds extensive onshore oil and gas acreage in the Cooper and Surat Basins. Senex operates the majority of its assets, produces around one million barrels of oil annually, and is successfully developing a gas business including the Western Surat Gas Project in Queensland.

Senex Energy Limited Head Office ABN 50 008 942 827 Level 14, 144 Edward St, Brisbane Qld 4000 ASX : SXY GPO Box 2233, Brisbane, Qld, Australia 4001

Phone +61 7 3335 9000 Facsimile +61 7 3335 9999 Web www.senexenergy.com.au

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