Two oil zones were encountered in the Namur Sandstone, with a total of ten metres of net pay interpreted in that formation. These zones are at a similar structural elevation and possess similar reservoir quality to those encountered in Christies-2, which tested at 1,773 bopd.

Seven metres of net oil pay are interpreted in the lower Birkhead Formation/Hutton Sandstone. This zone is at a similar structural level to the equivalent zone in Christies- 2, but exhibits improved reservoir quality. Three metres of net oil pay is interpreted in a mid-Birkhead Formation sandstone, which was not well developed in Christies-2.

Christies-3 will now be completed for oil production from the Namur Sandstone and Birkhead Formation/Hutton Sandstone. Following the completion, a short flow test of the well will be undertaken, probably early next week.

Christies-2 and Christies-3 are expected to commence commercial production in mid October. Although these wells will have the potential to produce at a combined rate in excess of 2,000 bopd, actual production from the wells is likely to be limited by the availability of trucking resources.

Furthermore, work has already commenced to expand the Christies facility to process and truck the four-fold oil rate increases expected from the two new wells.

Participants in the PEL 92 Joint Venture are Beach Petroleum Ltd (Operator) 75% Cooper Energy NL 25%