Past year: ▼ 33%(83.5c – 1.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Oct 2007regulatory community update● Neutral
Anzon (BMG operator) says weekly 30,000 bbl crude transfers at Eden will run to end October because Basker Spirit cannot be moored offshore. Mooring is expected to be reinstated then, consistent with the earlier curtailment.
3 Oct 2007well test result▲ GoodMajor
Callawonga-3 (Beach 75%) found a 5 m oil column in the Namur and flowed about 5,660 bopd on clean-up with no water, beating Callawonga-2's 4,992 bopd. Kopuwai-1 in New Zealand (Beach 20%) spudded 29 September.
28 Sept 2007annual report▲ Good
Shareholder update for FY07 repeating known results: profit A$103m, revenue A$567m, record production 9.4 mmboe, 2P reserves up 148% to 90 mmboe. Chairman says to expect more deals. No new figures. Text is truncated.
27 Sept 2007debt financing● Neutral
Beach's A$300m 3-year term facility, underwritten in May 2007 by CBA and Societe Generale, has been syndicated, with BNP Paribas, nabCapital and United Overseas Bank joining. No change to size or terms is stated.
27 Sept 2007drilling progress report● Neutral
Drillsearch update: Jackson South-12A found oil shows and is running a drill stem test. Pitchery-3 (Beach 38.5%) found oil in the Murta and was cased as a future producer; Chilla-2 spudded 23 September.
26 Sept 2007drilling progress report● Neutral
Beach weekly report: Big Lake-86 and Pitchery-3 cased as future oil producers, Bronzewing-1 plugged and abandoned. Callawonga-3 (Beach 75%) has good oil shows over about 8 m at the top of the Namur, drilling to total depth on 27 September.
26 Sept 2007drilling progress report▲ Good
Partner Cooper Energy (25%) reports oil shows in the Namur at Callawonga-3, the second of three Beach-operated wells. It will drill to 1,943 m and log, without production testing, since Callawonga-1 and -2 flowed 2,400 and 4,992 bopd.
21 Sept 2007drilling progress report● Neutral
Drillsearch update: Jackson South-13 (Beach 38.5%) cased and suspended as a future oil producer. Jackson South-12 and Pitchery-3 spudded 15 September; Pitchery-3 is waiting on a pump repair.
19 Sept 2007drilling progress report● Neutral
Beach weekly report: Jackson South-13 cased as a potential oil producer and Piniata-1 plugged and abandoned. Callawonga-3, the second appraisal well, spudded 18 September; four other wells are in progress.
18 Sept 2007regulatory community update▲ Good
Partner Entek (28.15%) updates ATP 269P, operated by Beach (46.95%): Marcoola-1 should produce from November 2007. Warragon-1 will be flow-tested from early October, after which it will be completed, stimulated or abandoned. Byrock-2 producing about 60 bopd.
14 Sept 2007drilling progress report● Neutral
Drillsearch update: Piniata-1 (Beach 38.5%) found trace oil shows but no pay on logs, and is being abandoned. Jackson South-13 has oil shows in several formations and awaits logging.
12 Sept 2007drilling progress report▲ Good
Beach weekly report: Callawonga-2 found an 8 m oil column and is expected to start at about 1,500 bopd in October. Tindilpie-6 and Moomba 179 cased as potential gas producers; Hawkins-1 plugged and abandoned.
10 Sept 2007well test result▲ GoodMajor
Callawonga-2 (Beach 75% operator) flowed about 4,992 barrels of oil a day, with negligible water. It will be tied in and add to Callawonga production from October, confirming the field discovered in July 2006.
6 Sept 2007drilling progress report● Neutral
Drillsearch weekly update: Muchacho-1 (Beach 38.5%) had oil shows but recovered no oil on test and was abandoned. Piniata-1 spudded. Mulberry 34 is a Santos-operated well, not Beach's.
5 Sept 2007drilling progress report● Neutral
Beach weekly report: Granchio-1 cased as an oil producer (oil in two zones), Muchacho-1 plugged and abandoned. Callawonga-2 (Beach 75%) has oil shows in the Namur and is drilling ahead; Hawkins-1 in progress.
5 Sept 2007investor presentation● Neutral
Good Oil Conference presentation repeating known facts: FY07 results, 90 mmboe 2P reserves, Cooper Oil Program targeting up to 15 mmbbl net to Beach over 3-5 years. Callawonga appraisal drilling in September. No new information.
29 Aug 2007dividend declaration▲ Good
Details of the 1.0c unfranked final dividend: record date 31 October, payment 23 November 2007. The dividend reinvestment plan carries a 5% discount, and its rules are tweaked (rounding up shares, no minimum participation).
29 Aug 2007investor presentation● Neutral
Amended version of the FY07 results presentation. Figures repeat the earlier briefing; no new substance is evident in the readable text.
29 Aug 2007annual report▲ GoodMajor
Preliminary final report for FY07: net profit A$103.3m (up from A$44.0m) on total revenue A$566.8m; oil and gas sales A$472m. Final dividend 1.0c, full-year 1.75c. 2P reserves 89.6 mmboe, up from 36.2. Debt A$296m, cash A$74.7m.
29 Aug 2007drilling progress report▲ Good
Beach weekly report: McKinlay-6 (Beach 20.21%) cased as an oil producer with a 15 m oil column (9 m net pay). Callawonga-2 (Beach 75%), first of three appraisal wells, spudded 25 August. Scratchy-1 plugged and abandoned.
29 Aug 2007investor presentation● Neutral
Results briefing repeating FY07 figures: NPAT A$103.25m, 2P reserves 90 mmboe, A$71m gain on the BMG sale. Cites over 62 mmboe of potential reserve upside in existing projects over 3-5 years. No new information.
29 Aug 2007other▲ Good
Media release on the record FY07 result: profit A$103.3m, revenue A$566.8m, 2P reserves 90 mmboe versus 36. Management expects production of 10 mmboe or more annually over the next three years from existing projects. Repeats the accounts.
24 Aug 2007drilling progress report● Neutral
Drillsearch's weekly update confirms Naccowlah-3 (Beach 38.5%) reached 1470 m and the test recovered water only, so it will be plugged and abandoned. Mulberry 31 is a Santos-operated Tintaburra well, not Beach's.
22 Aug 2007drilling progress report● Neutral
Beach weekly report: McKinlay-5 is a successful oil well, with about 14 m of oil interpreted. Naccowlah-3 plugged and abandoned after testing water, and Tindilpie-5 plugged and abandoned. Rig moves to Callawonga for three appraisal wells, Callawonga-2 to spud 24 August.
21 Aug 2007farm in farm out agreement▲ GoodMajor
Beach announces three offshore farm-ins: 20% of NZ's PEP 38482 (Kopuwai-1, Sept/Oct 2007), 80% of part of T/38P and 50% of T/39P in the Bass Basin (wells second half 2008). It says each could yield over 20 mmb net, with Beach operating the Bass Basin wells.
21 Aug 2007farm in farm out agreement● Neutral
Cue Energy confirms Beach will earn 80% of a defined part of Bass Basin permit T/38P by paying for the Spikey Beach-1 well, to be operated by Beach in the second half of 2008. Subject to formal documentation and regulatory approval.
21 Aug 2007investor presentation▲ Good
Beach's media release on its largest offshore campaign: at least four offshore wells in 15 months, about A$50m for the three new wells funded from cashflow and reserves. Targets a roughly 50% lift in net reserves over three to four years. Full-year results due by 31 August.
21 Aug 2007farm in farm out agreement▲ GoodMajor
AWE confirms Beach will earn 20% of New Zealand permit PEP 38482 by funding part of the Kopuwai-1 well, expected September-October 2007. The prospect is said to hold potential for over 100 million barrels of recoverable oil. Subject to government approval.
16 Aug 2007drilling progress report▼ Bad
Drillsearch confirms Carney South 1 (Beach 38.5%) found no oil pay and was plugged and abandoned. Naccowlah 3 spudded 13 August. Mulberry 32 cased as a future oil producer; not a Beach block.
15 Aug 2007joint venture update▲ Good
Beach, Great Artesian and Cool Energy signed a feasibility study for a 20 mmscfd gas processing plant in PEL 106 using carbon-capturing technology, possibly operating in 2009. Depends on study results and gas reserves. Beach can drill two more wells to earn 50% of its farmin block.
