Beach Energy Limited advises the following in relation to its reserves and resources as at 30 June 2013:
• New categorization of 1P (Proved) and 3P (Proved, Probable and Possible) reserves;
• 2P reserve replacement ratio of 100%, mainly due to:
o 13% increase in oil reserves;
o Minor downward revisions to gas reserves; and
o FY13 production of 8.0 MMboe.
• 2C contingent resources down 4% on the prior year, mainly due to:
o Farm-out of 30% equity to Chevron in PEL 218; and
o Revisions to booking guidelines in relation to the unconventional gas business in the Cooper Basin; partly offset by
o Resource bookings for Halifax-1 (ATP 855) and Moonta-1 (PEL 218).
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