Beach Energy Starts Holdfast-1 Flow Stimulation (Australia)

Beach Energy Ltd announced that the flow stimulation of Holdfast-1 commenced over the weekend.

This is the first time flow stimulation has specifically targeted shale target zones at depth in the Cooper Basin, with the flow stimulation of Holdfast-1 to be undertaken in eight stages.

It is expected that the stimulation process will be completed within two weeks, after which the flow testing will commence (early July).

Participants in PEL 218 (Permian JV) are:

– Beach (Operator) 90%

– Adelaide Energy Ltd 10%

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Source: Beach Energy, June 14, 2011;