Beach (ASX:BPT) provides Beharra Springs Deep update

Company News

by Anna Napoli

Beach Energy Limited (ASX:BPT) has completed flow testing at the Beharra Springs Deep-1 gas discovery in licence L11 in the Perth Basin.

The mining company says the Beharra Springs Deep-1 flow test confirms the presence of high quality Kingia Sandstone reservoir.

The well is expected to be tied into the existing Beharra Springs gas facility by the end of 2020.

The data obtained from well testing will be integrated with other subsurface data to enable estimation of the size of the gas resource and planning for potential follow-up appraisal drilling in FY21.

Shares in Beach Energy (ASX:BPT) are trading 0.38 per cent higher at $2.62.


Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.