Beach Energy Ltd has achieved a significant gas discovery at Tarantula Deep 1 within the prolific Perth Basin in Australia. This discovery marks the second successful find from the company's ongoing exploration efforts, solidifying its position in the region.

The Tarantula Deep 1 well, reaching a depth of 13,520 feet (4,121 meters), encountered a substantial 206.7-foot (63-meter) gross section of premium-quality Kingia Sandstone reservoir, comparable to the Beharra Springs Deep 1 well, as indicated in Beach's recent filing with the Australian Securities Exchange (ASX).

Preliminary evaluations reveal that Tarantula Deep 1 has identified a gas water contact within the Kingia reservoir, with a confirmed net gas pay of 10 meters (32.8 feet) above the contact through gas sampling. The well's strategic positioning and the extensive data collected during drilling are expected to provide valuable insights for optimal development planning and enhanced recovery estimates.

Beach Interim CEO Bruce Clement expressed enthusiasm about the discoveries, emphasizing the growing importance of the Perth Basin business for the Western Australian gas market. The company's forward-looking strategy involves continued exploration and development activities in the area, with plans to drill the Waitsia 11 development well and subsequent exploration at the Beharra Springs Deep 2 and Redback Deep 1 sites.

In addition to the recent success at Tarantula Deep 1, Beach Energy has made significant progress in its development endeavors at the Trigg Northwest 1 gas field. The company's continued commitment to exploration and development aligns with its vision to strengthen its presence in the region and contribute to the growing gas demand in Western Australia.

Beach Energy is also actively involved in the development drilling of the Kupe South 9 well, in collaboration with joint venture partners Genesis and NZOG. This phase of development drilling in the Kupe natural gas field is a testament to the company's dedication to safe and sustainable energy practices, ensuring a stable power supply and supporting the region's renewable energy initiatives.

As the company advances its exploration and development activities, its focus on safety, environmental stewardship, and regulatory compliance remains unwavering, emphasizing its commitment to sustainable energy practices and responsible resource management in the region.