News: BPT Beach Energy seeks acquisitions in Australia, NZ - CEO, page-26

Lots of people worried about reserves, but the drilling in the Perth basin is likely to greatly increase reserves. IMHO based on what others have discovered all around our 50% exploration permit, there is a likely 4-5 Trillion cubic feet of good quality gas in EP320 alone, which of course is 50% to BPT. 1Tcf of gas is equivalent to 178MMboe, so by the end of the drill program and appraisal we should have substantially higher reserves.

Because of the govt stupid policy of reserving all Perth basin gas for WA, it has held back exploration and development of these resources. The government will look very stupid when the Perth Basin keeps racking up finds but no-where to sell the resources, so I would expect the policy to change with a percentage reserved for WA, like the NW shelf has. It might be a different percentage, but allowing some of Perth Basin gas to be exported will be a tremendous boost to all land holders in the PB.

What I find amusing is how Woodside is about to spend $16b on Scarborough for 11.1Tcf, (which will probably become over $20-25b by the time it is complete), while the potential of the Perth Basin just sits there right next to the Dampier -Perth pipeline, with potentially as much gas between all the land holders as Scarborough.

Why wouldn't Beach (and all the other land holders) become a takeover target(s) given the potential just in the Perth Basin, with everything else just an added bonus??

Hopefully management and BOD get off their ar$e and do the necessary drilling in the Perth Basin to prove up a lot of reserves ASAP to show potential value in our assets!!