precursor to bpt asx march 2008 quarterly

All,

As a precursor to the BPT ASX quarterly (due in the next week), the following information, also relevant to Beach shareholders, is available within the Cooper Energy Limited ASX March 2008 Quarterly Report released today.

Note that the production by oil fields within the PEL92 JV is more detailed than will be available in the BPT Quarterly:


Exploration
Cooper Basin, South Australia
The PEL92 Joint Venture (BPT 75%/ COE 25%) approved and commenced the acquisition of 119 km of 2D and 196 km2 of 3D seismic. The objective of the seismic is to identify drilling targets to the west of Parsons, Callawonga and Christies Oil Fields. It is hoped that viable exploration targets can be drilled late 2008/early 2009.


Development
Cooper Basin, South Australia
It is expected that the Parsons Oil Field will commence production in May 2008 with oil initially trucked to Tantanna. Parsons-1 cleaned up at over 3,362 barrels of oil per day (gross) indicating that the Parsons Oil Field is expected to add around 2,000 barrels of oil per day (gross) to JV oil capacity once the field is fully operational.

The construction of the Callawonga to Tantanna flowline (BPT 75%/ COE 25%) was progressing with tie-in and commissioning expected in May 2008.

The Parsons to Callawonga flowline (BPT 75%/ COE 25%) is currently in the planning stages with construction expected to commence in the 3rd quarter 2008, and, similar to the Callawonga to Tantanna flowline, the Parsons to Callawonga flowline will assist in reducing off-take costs and road transportation downtime.


Production within PEL92 Joint Venture
The quarterly oil production in bbls (all numbers 100% JV for March 2008 quarter) from the four producing oil fields within PEL92 is detailed below (with % compared to the December 2007 quarter).

Christies ......22,596 (+11%)
Sellicks .......13,882 (+6%)
Silver Sands .....812 (-43%)
Callawonga .202,126 (+15%)

Total ..........239,416 (+13.6%)

Cheers