Thought to be thoroughly tested and dried out Beach has maintained that the Cooper Basin is still full of potential and backed-up these claims with an extensive seven well program last year.

Christies-1 is the first of eight target prospects scheduled for the company's 2003 program in which it plans to spend $5 million to further prove up the perimeter potential of the basin.

Commercial production at the well is set to begin in the next two or three months with preliminary rates expected to be around 250bopd. The company said there is potential to increase production following formation clean-up after a period of production from the reservoir zone.

Reserves estimates for the Christies structure have also been upgraded following completion of the well. Potential highside reserves are now assessed to be around 1.3 million barrels of recoverable oil.

The joint venture will continue to monitor the well's performance with a view to drilling development wells on the Christies structure in early 2004.

The well is located in PEL 92, about 80km west of Moomba and about 11km south-west of the Sellicks-1 well.

Beach Petroleum (Operator) holds a 75% interest with Cooper Energy holding the remaining 25%.