coe strike oil, page-5

Hi Harry,

All the best to you too.

COE very strange. This is from Oil and Gas Today yet as far as I can see the company has said nothing official.

"Friday, 1 October, 2004
Four-fold oil rate increase sees Christies facility expanded
Adelaide, 01 October, OGT— Commercial production from Christies-2 and Christies-3 in the Cooper Basin is expected later this month after wireline logging confirmed the presence of 20 metres of net oil pay oil at four levels in Christies-3.

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


Christies-2 was interpreted to have 19 metres of net pay and confirmed the potential for areas on the western flanks of the Cooper Basin to host a new oil fairway.


Christies-3 will be completed for oil production from the Namur Sandstone and
Birkhead Formation/Hutton Sandstone.

Following the completion, a short flow test of the well is expected to be undertaken early next week.


Operator Beach Petroleum said that although these wells would have the potential to produce at a combined rate in excess of 2,000 bopd, actual production from the wells was likely to be limited by the availability of trucking resources.

Christies-2 is located about 280 metres southwest of the Christies-1 production well, 85 kilometres west of Moomba.


The Christies-1 discovery was made in July last year in the Birkhead Formation.


Christies-3 was drilled approximately 290 metres southeast of Christies-2 and 380 metres south of Christies-1.

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

Oil & Gas TODAY"