Effective 1 March 2016, Drillsearch Energy Limited is a wholly owned subsidiary of Beach Energy Limited. For latest information regarding the combined operations, please visit Beach’s web site at www.beachenergy.com.au. Please note the existing Drillsearch web site will close in due course.

The Oil Business is Drillsearch’s near-term cash generator.

The company produces oil from the highly profitable Bauer oil field on the Western Flank Oil Fairway, and also from more mature operations on the Cooper Basin’s Eastern Margin. The company’s Oil operations also include exploration in the Inland-Cook Oil Fairway, and the Flax field in the Northern Cooper, which was in production as recently as early 2015.

Drillsearch holds a material position in the Western Flank Oil Fairway, where it has worked successfully with joint venture partner, Beach Energy in the area formerly known as PEL 91 and which is now made up of a number of Retention Licences, PRL 151 to PRL 172 (see map). Drillsearch produced its first oil from the Western Flank operations in late 2009 and the area recently produced its 10-millionth barrel of oil under Drillsearch and Beach’s ownership. The Western Flank joint venture continues to be a prolific oil producer and Drillsearch and Beach have an active appraisal and development campaign underway that is expected to sustain production from the area well into the future.

More recently, the company acquired a stake in the neighbouring PEL 182 permit through its takeover of Acer Energy completed in FY2013. This area is expected to be a focus of exploration activity over the coming years.

For more information about activities in the Western Flank Oil Fairway please see our Operational ASX Announcements.

Ex-PEL91_Western-Flank-Oil-Fairway---TENEMENTS_June-2015_Web

Drillsearch’s key asset on the Eastern Margin is its 40% stake in the producing Tintaburra/ATP 299 project operated by joint venture partner Santos Limited. The Tintaburra block consists of a number of Production Licences and the exploration licence ATP 299. Drillsearch acquiring its initial stake in Tintaburra/ATP 299 in 2001 although the area has been in production since 1985 and currently produces from more than 81 wells.

For more information about activities in the Eastern Margin Oil Fairway please see our Operational ASX Announcements.

Estn-Margin-Oil-Fway_Tintaburra_Block_June-2015_Web

The Inland-Cook Oil Fairway refers to a set of contiguous permits situated in the Southwest Queensland region of the Cooper Basin, along the Queensland and South Australian borders. The area is named Inland-Cook because it is located between the Inland Oil Field to the north and the Cook Oil Field to the South.

For more information about activities in the Inland-Cook Oil Fairway please see our Operational ASX Announcements.

Inland-Cook-Oil-Fwy-V2_June-2015_Web

Drillsearch has built up a significant acreage position in the Northern Cooper through its acquisitions of Acer Energy and Ambassador Oil and Gas. Key assets in the area include PRLs 173 and 174 (formerly known as PEL 101), PELs 103 and 103A, PRLs 14 (Flax), 17 (Yarrow) and 18 (Juniper), and a stake in the PEL 570 licence area acquired as part of the Ambassador transaction in early FY2015.

For more information about activities in the Northern Cooper Gas and Liquids project area please see our Operational ASX Announcements

Nthn-Gas-&-Liquids-Project_June-2015_Web