Formation Evaluation

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Products: • Interactive Petrophysics*

Company: • Beach Petroleum

Well(s): • Bodalla South 17 (8 ½” Section)

Interval: • 1375.8m to 1630.5m MD

Analysis Date: • May 29, 2007

Logging Date: • May 27, 2007

Location: • Schlumberger Data Services Centre

• Melbourne, Victoria

Analyst(s): • Ashish Datey

Logging Engineer: • Y Zhuang

Prepared by:
Ashish Datey
Schlumberger Oilfield Australia Pty Ltd
Level 23, HWT tower,
40 City Road, Melbourne VIC 3006.
Telephone: +61-3-9674 7128
Facsimile: +61-3-9674 7255
mailto:dcs@perth.oilfield.slb.com
datey1@melbourne.oilfield.slb.com

* Mark of Schlumberger

Bodalla South 17 FEQL Page 1 of 14 29/05/2007

Executive Summary
Hydrocarbon zones have been identified in the target lower Birkhead from 1451m – 1468m and also in the Basal
Jurassic from 1607m - 1612.5m

The tables below summarise the interpreted logs.

Reservoir SUMMARY

Zn Zone Name Top Bottom Gross Net N/G Av Phi Av Sw Av Vcl Phi*H PhiSo*H
# Ari
1 Adori 1375.77 1387.40 11.63 11.63 1.000 0.216 0.996 0.039 2.52 0.01
2 Birkhead 1387.40 1467.70 80.30 57.59 0.717 0.140 0.864 0.237 8.07 1.10
3 Hutton 1467.70 1581.00 113.30 91.78 0.810 0.158 0.966 0.106 14.49 0.49
4 B. Jurassic 1581.00 1630.48 49.48 27.03 0.546 0.147 0.826 0.168 3.97 0.69

All Zones 1375.77 1630.48 254.71 188.04 0.738 0.154 0.921 0.151 29.04 2.29

Pay SUMMARY

Zn Zone Name Top Bottom Gross Net N/G Av Phi Av Sw Av Vcl Phi*H PhiSo*H
# Ari
1 Adori 1375.77 1387.40 11.63 0.00 0.000 --- --- --- --- ---
2 Birkhead 1387.40 1467.70 80.30 5.89 0.073 0.171 0.488 0.173 1.01 0.52
3 Hutton 1467.70 1581.00 113.30 0.00 0.000 --- --- --- --- ---
4 B. Jurassic 1581.00 1630.48 49.48 5.23 0.106 0.166 0.464 0.045 0.87 0.47

All Zones 1375.77 1630.48 254.71 11.13 0.044 0.169 0.477 0.113 1.88 0.98

CUTOFFS USED

Zn Zone Name Top Bottom Min. Phi Sw Vcl

# Height PHIE SW VWCL
Reservoir
1 Adori 1375.77 1387.40 0. >= 0.1 <= 0.5
2 Birkhead 1387.40 1467.70 0. >= 0.1 <= 0.5
3 Hutton 1467.70 1581.00 0. >= 0.1 <= 0.5
4 B. Jurassic 1581.00 1630.48 0. >= 0.1 <= 0.5
Pay
1 Adori 1375.77 1387.40 0.25 >= 0.1 <= 0.6 <= 0.5
2 Birkhead 1387.40 1467.70 0.25 >= 0.1 <= 0.65 <= 0.5
3 Hutton 1467.70 1581.00 0.25 >= 0.1 <= 0.6 <= 0.5
4 B. Jurassic 1581.00 1630.48 0.25 >= 0.1 <= 0.65 <= 0.5
Depth Units : m

Bodalla South 17 FEQL Page 2 of 14 29/05/2007

Figure 1 : Evaluation results Birkhead

Bodalla South 17 FEQL Page 3 of 14 29/05/2007

Table of Contents
Executive Summary...............................................................................................................................................................................................................2
Table of Contents.............................................................................................................................................................................................................4
Results...................................................................................................................................................................................................................................5
Methodology.........................................................................................................................................................................................................................8
General Information.........................................................................................................................................................................................................8
Log Quality .......................................................................................................................................................................................................................9
Environmental Corrections..............................................................................................................................................................................................9
Rt Determination............................................................................................................................................................................................................10
Rw Determination..........................................................................................................................................................................................................10
Vclay Determination ......................................................................................................................................................................................................10
Lithology Determination................................................................................................................................................................................................11
Saturation.......................................................................................................................................................................................................................11
Porosity...........................................................................................................................................................................................................................11
Cutoff..............................................................................................................................................................................................................................11
Assumptions...................................................................................................................................................................................................................11
Deliverables ........................................................................................................................................................................................................................11
Evaluation Parameters........................................................................................................................................................................................................12

Bodalla South 17 FEQL Page 4 of 14 29/05/2007

Results
Figure 2, Formation Evaluation Results, 1:500

Bodalla South 17 FEQL Page 5 of 14 29/05/2007

Bodalla South 17 FEQL Page 6 of 14 29/05/2007
Bodalla South 17 FEQL Page 7 of 14 29/05/2007
Methodology
Logs were recorded in open hole from TD to casing shoe. GR, nuclear, resistivity and sonic logs were recorded from TD
to Casing Shoe, and GR to surface. Logs evaluation was done from the high resolution data. The open hole data was
analysed using the Schlumberger evaluation package, Interactive Petrophysics (IP*). This graphically interactive package
uses deterministic methods to quickly evaluate acquired log data.

General Information
The following general information and parameters were taken from field logs and tapes:

Well Data
Company Name Beach Petroleum Limited CN
Well Name Bodalla South 17 WN
Field Name Bodalla South FN
Rig: Hunt Rig #2 CLAB, COUN
State: Queensland SLAB, STAT
Nation Australia NATI
Field Location Bodalla Sth 3D Survey FL
FL1
Longitude 143* 25' 32.03 E LONG
Latitude 26* 26' 49.82 S LATI
Maximum Hole Deviation 6 (deg) MHD
Elevation of Kelly Bushing 153.3 (m) EKB
Elevation of Ground Level 149.5 (m) EGL
Elevation of Derrick Floor 153.3 (m) EDF
Elevation of Permanent
Permanent Datum AHD PDAT, EPD
Datum 153.3 (m)
Log Measured From Rotary Table Above Permanent Datum (m) LMF, APD
Drilling Measured From Rotary Table DMF

Absent Valued Parameters: CN1, CONT, FL2, SECT, TOWN, RANG, APIN, SON

Job Data
Date as Month-Day-Year 28-May-2007 DATE
Run Number 1 RUN
Total Depth - Driller 1647.0 (m) TDD
Total Depth - Logger 1647.8(m) TDL
Bottom Log Interval 0.0 (m) BLI
Top Log Interval 0.0 (m) TLI
Current Casing Size 9.63 (in) CSIZ
Casing Weight 36.0 (lbm/ft) CWEI
Bit Size 8.50 (in) BS
Date Logger At Bottom 27-May-2007 Time Logger At Bottom 11:00 DLAB, TLAB
Logging Unit Number 3170 Logging Unit Location AUMB LUN, LUL

Bodalla South 17 FEQL Page 8 of 14 29/05/2007

 Engineer's Name Y Zhuang ENGI
Witness's Name Mr. Peter Morris WITN

Absent Valued Parameters: CDF, CADT, CASG, BSDF, BSDT, SON

Mud Data
Drilling Fluid Type KCL Polymer DFT
Drilling Fluid Density 1.152 (g/cm3) Drilling Fluid Viscosity 40.0 (s) DFD, DFV
Drilling Fluid Loss 7.6(cm3) Drilling Fluid PH 9.50 DFL, DFPH
Borehole Salinity 30000.0 (ppm) BSAL
Mud Sample Source Flowline MSS
Mud Sample Temperature 14.5
Resistivity of Mud Sample 0.284 (ohm.m) RMS, MST
(degC)
Resistivity of Mud Filtrate Mud Filtrate Sample
0.231 (ohm.m) RMFS, MFST
Sample Temperature 14.34 (degC)
Resistivity of Mud Cake Mud Cake Sample
0.361 (ohm.m) RMCS, MCST
Sample Temperature 14.8 (degC)
Resistivity of Mud - BHT 0.078 (ohm.m) RMB
Resistivity of Mud Filtrate -
0.08936 (ohm.m) RMFB
BHT
Maximum Recorded
93.0 (degC) MRT
Temperature
93.0 (degC) MRT1
93.0 (degC) MRT2
Date Circulation Stopped 27-May-2006 Time Circulation Stopped 02:20 DCS, TCS
Date Logger At Bottom 27-May-2006 Time Logger At Bottom 11:00 DLAB, TLAB

Absent Valued Parameters: MRT3

Log Quality
Logs over zones of interest are of good quality. HDRA is small; hole appears to be in good shape. All curves were
recorded in the same run, and therefore no depth matching is expected to be required. There were no tension overpulls
recorded in zones of interest, resulting in good quality logs and no depth mismatch.

Environmental Corrections
All corrections for neutron were done in the field, excluding formation salinity. This was computed inside the evaluation
software (IP), as it is dependent on saturations.

Borehole corrections were done in the field for the resistivity. Shoulder bed corrections were not done. Rt (HART) was
calculated in the field using tornado chart type corrections

Rxo data, RXOZ / RXO8 data is computed using a borehole model, and therefore is correct when recorded.

Density, RHOZ, RHO8 data is corrected using borehole shape (BS) and the PEF corrected for barite when recorded.

Bodalla South 17 FEQL Page 9 of 14 29/05/2007

Gamma ray, ECGR data is corrected for hole size (from caliper) and mud weight in the field, thus no further correction
was applied.

Rt Determination
HART was used as Rt.

Rw Determination
The Rw’s were either interpreted from the logs or regional values were used for the saturation computations.

1. The Rw for Adori was taken as 1.3 ppk

2. The Rw for Birkhead was taken 3.8 ppk

3. The Rw for Huttton was taken as 2.5 ppk

4. The Rw for Basal Jurassic was taken as 2 ppk

Vclay Determination
Vclay was determined using:
1. Minimum of GR and Density-Neutron

CLAY VOLUME PARAMETERS

Well : Bodalla South 17

Date : 29/05/2007 2:44:13 PM

Input Curves
Gamma Ray : HiR:EHGR Neu/Den Density : HiR:RHO8
Neu/Den Neutron : HiR:HTNP
Output Curves
Vclay Gamma Ray : VCLGR Vclay Neu/Den : VCLND
Vclay minimum : VCL Vclay average : VCLAV

Zone number 1 Adori Top : 1375.77 Bottom : 1387.40

Gr Use : Yes Gr Clean : 40. Gr Clay : 200.
Gr Method : Linear ND Use : Yes ND Neu Clay : 0.4
ND Den Clay : 2.6 ND Den Clean1 : 2.65 ND Den Clean2 : 2.05
ND Neu Clean1 : -0.04 ND Neu Clean2 : 0.3

Zone number 2 Birkhead Top : 1387.40 Bottom : 1467.70

Gr Use : Yes Gr Clean : 40. Gr Clay : 225.
Gr Method : Linear ND Use : Yes ND Neu Clay : 0.4
ND Den Clay : 2.6 ND Den Clean1 : 2.65 ND Den Clean2 : 2.05
ND Neu Clean1 : -0.04 ND Neu Clean2 : 0.3

Zone number 3 Hutton Top : 1467.70 Bottom : 1581.00

Gr Use : Yes Gr Clean : 40. Gr Clay : 250.
Gr Method : Linear ND Use : Yes ND Neu Clay : 0.4
ND Den Clay : 2.6 ND Den Clean1 : 2.65 ND Den Clean2 : 2.05
ND Neu Clean1 : -0.04 ND Neu Clean2 : 0.3

Zone number 4 Basal Jurassic Top : 1581.00 Bottom : 1630.48

Gr Use : Yes Gr Clean : 30. Gr Clay : 275.

Bodalla South 17 FEQL Page 10 of 14 29/05/2007

Gr Method : Linear ND Use : Yes ND Neu Clay : 0.375
ND Den Clay : 2.75 ND Den Clean1 : 2.65 ND Den Clean2 : 2.05
ND Neu Clean1 : -0.04 ND Neu Clean2 : 0.3

Lithology Determination
Lithology was assumed to be sand and clay, using the parameters above.

Saturation
Saturation was calculated using the Dual Water equation:

1/Rt = PhiT**m.SwT**n/a.(1/Rw + Swb/SwT(1/Rwb-1/Rw))

Cementation exponent “m” is the Shell equation in the IP software. “m” increases with decreasing PHIE. The saturation
exponent “n” is 1.9.

Porosity
Porosity is calculated using the neutron-density in the IP software.

Cutoff
Cutoffs used were:
Vclay < 50%, Sw < 60% and PHIE < 10%.

Assumptions
1. Mineral model of sand, clay.
2. m is variable using the Shell equation and n assumed to be 1.9

Deliverables
Main Outputs
The following main outputs were delivered with the digital data:
#MNEM UNIT API CODE Description
#---------- ---------- ---------- -----------
DEPTH .M :
BVW .Dec : Bulk Volume water (Phie x SW)
BVWSXO .Dec : Bulk Volume water Invaded Zone (Phie x Sxo)
PayFlag . : Pay Flag
PayH . : Pay Height
PHIE .Dec : Effective Porosity
PHIT .Dec : Total Porosity
ResFlag . : Reservoir Flag

Bodalla South 17 FEQL Page 11 of 14 29/05/2007

 ResH . : Reservoir Height
SW .Dec : Water Saturation
SWT .Dec : Total Water Saturation
SXO .Dec : Saturation Invaded Zone
SXOT .Dec : Total Saturation Invaded Zone
VCL .Dec : Clay Volume

The following deliverables are produced from this processing:

1. Evaluation report (PDF)
2. Evaluation graphics, 1:500 (GIF),
3. LAS outputs of evaluation
4. Cutoffs and evaluation parameters (TXT)

Evaluation Parameters
The following parameters were used for the interpretation:

POROSITY WATER SATURATION PARAMETERS

Well : Bodalla South 17

Date : 29/05/2007 2:44:17 PM

Input Curves
Neutron : HiR:HTNP Density : HiR:RHO8
Sonic : DT PEF : HiR:PEF8
Clay Volume : VCL Rt : HiR:Rt
Rxo : HiR:RXO8 Temperature : Temp
Non Calc. flag : NoPay
Output Curves
Phi Total : PHIT Phi effective : PHIE
Sw : SW Sw unlimited : SWU
Sw total : SWT Sw total unlim : SWTU
Sxo : SXO Sxo unlimited : SXOU
Sxo total : SXOT Sxo total unlim : SXOTU
Bulk vol water : BVW Bulk vol flushed : BVWSXO
Wet clay volume : VWCL Dry Clay volume : VDCL
Bound water sat : SWB Volume silt : VSILT
Volume fines : VFINES Logic flag : PHIFLAG
Matrix density : RHOMA Sonic matrix : DTMA
Coal Volume : VCOAL Salt volume : VSALT
m fom EPT/MSFL : Mvar Hydrocarbon den : RHOHY
Mineral 1 Volume : VSand Mineral 2 Volume : VLime
Mineral 3 Volume : VDol Rho Mat apparent : RHOMAPP
DT Mat apparent : DTMAPP U Mat apparent : UMAPP
Secondary Phi : PHISEC Sec Phi unlimited: RHOHY

Multi-mineral analysis
3 mineral used : Sand Lime Dol

Zone number 1 Adori Top : 1375.77 Bottom : 1387.40

Rw : 1.7 Rw Temp : 80. Rmf : 0.231
Rmf Temp : 14.34 Rw bound : 0.2 Rwb Temp : 80.
Rmf bound : 0.2 Rmfb Temp : 80. Rho Sxo zone :
Salin Sxo zone : Rho Wet Clay : 2.6 Rho Dry Clay : 2.78
Neu Wet Clay : 0.4 Sonic Wet Clay : 95. Hc Den : 0.8
Neu Hc HI : Den Hc app : GD source : Mlt-Mins
Rho GD : 2.65 Rho GD max : 2.95 Rho GD min : 2.51
Sonic Equ : Wyllie Sonic water : 189. Sonic Cp : 1.
Neu Form Sal : Yes Neu Log Cont : Schlumb Neu Tool Type : CNL

Bodalla South 17 FEQL Page 12 of 14 29/05/2007

Porosity Method : Neu Den Variable Hc Den : No Variable GD : Yes
Variable Vcl : No Mineral Model : ss/ls/dol OBM ? : No
Phi max : 0.3 Delta Phi max : 0.15 m vari wth Vcl : No
Vcl cutoff : 0.6 Sxo Limit ? : Yes Sxo Limit : 0.2
Sat Equation : Dual water a factor : 1. m exponent : 1.79
n exponent : 1.9 Sxo Method : Rxo m source : Shell
n source : Param Coal Logic : No Salt Logic : No
PhiT Clay : Model Type : U/Rho Sand Umat : 5.8
Lime Umat : 13.8 Dol Umat : 9. Sand RhoMat : 2.65
Lime RhoMat : 2.71 Dol RhoMat : 2.85 Sand Rho True : 2.65
Lime Rho True : 2.71 Dol Rho True : 2.85 Sand DT True : 55.5
Lime DT True : 49. Dol DT True : 44. Clay Corr Input : Yes
Sand Clay ? : No Lime Clay ? : No Dol Clay ? : No
Pef Clay : 3.5 Phie Sw Limit : 0. Phie Limit : 0.
Vcl Limit : 1.

Zone number 2 Birkhead Top : 1387.40 Bottom : 1467.70

Rw : 0.6 Rw Temp : 80. Rmf : 0.231
Rmf Temp : 14.34 Rw bound : 0.08 Rwb Temp : 80.
Rmf bound : 0.08 Rmfb Temp : 80. Rho Sxo zone :
Salin Sxo zone : Rho Wet Clay : 2.6 Rho Dry Clay : 2.78
Neu Wet Clay : 0.4 Sonic Wet Clay : 95. Hc Den : 0.8
Neu Hc HI : Den Hc app : GD source : Mlt-Mins
Rho GD : 2.65 Rho GD max : 2.95 Rho GD min : 2.51
Sonic Equ : Wyllie Sonic water : 189. Sonic Cp : 1.
Neu Form Sal : Yes Neu Log Cont : Schlumb Neu Tool Type : CNL
Porosity Method : Neu Den Variable Hc Den : No Variable GD : Yes
Variable Vcl : No Mineral Model : ss/ls/dol OBM ? : No
Phi max : 0.3 Delta Phi max : 0.15 m vari wth Vcl : No
Vcl cutoff : 0.6 Sxo Limit ? : Yes Sxo Limit : 0.2
Sat Equation : Dual water a factor : 1. m exponent : 1.78
n exponent : 1.9 Sxo Method : Rxo m source : Shell
n source : Param Coal Logic : No Salt Logic : No
PhiT Clay : Model Type : U/Rho Sand Umat : 5.8
Lime Umat : 13.8 Dol Umat : 9. Sand RhoMat : 2.65
Lime RhoMat : 2.71 Dol RhoMat : 2.85 Sand Rho True : 2.65
Lime Rho True : 2.71 Dol Rho True : 2.85 Sand DT True : 55.5
Lime DT True : 49. Dol DT True : 44. Clay Corr Input : Yes
Sand Clay ? : No Lime Clay ? : No Dol Clay ? : No
Pef Clay : 3.5 Phie Sw Limit : 0. Phie Limit : 0.
Vcl Limit : 1.

Zone number 3 Hutton Top : 1467.70 Bottom : 1581.00

Rw : 0.9 Rw Temp : 80. Rmf : 0.231
Rmf Temp : 14.34 Rw bound : 0.15 Rwb Temp : 80.
Rmf bound : 0.15 Rmfb Temp : 80. Rho Sxo zone :
Salin Sxo zone : Rho Wet Clay : 2.6 Rho Dry Clay : 2.78
Neu Wet Clay : 0.4 Sonic Wet Clay : 90. Hc Den : 0.8
Neu Hc HI : Den Hc app : GD source : Mlt-Mins
Rho GD : 2.65 Rho GD max : 2.95 Rho GD min : 2.51
Sonic Equ : Wyllie Sonic water : 189. Sonic Cp : 1.
Neu Form Sal : Yes Neu Log Cont : Schlumb Neu Tool Type : CNL
Porosity Method : Neu Den Variable Hc Den : No Variable GD : Yes
Variable Vcl : No Mineral Model : ss/ls/dol OBM ? : No
Phi max : 0.3 Delta Phi max : 0.15 m vari wth Vcl : No
Vcl cutoff : 0.6 Sxo Limit ? : Yes Sxo Limit : 0.2
Sat Equation : Dual water a factor : 1. m exponent : 1.8
n exponent : 1.9 Sxo Method : Rxo m source : Shell
n source : Param Coal Logic : No Salt Logic : No
PhiT Clay : Model Type : U/Rho Sand Umat : 5.8
Lime Umat : 13.8 Dol Umat : 9. Sand RhoMat : 2.65
Lime RhoMat : 2.71 Dol RhoMat : 2.85 Sand Rho True : 2.65
Lime Rho True : 2.71 Dol Rho True : 2.85 Sand DT True : 55.5
Lime DT True : 49. Dol DT True : 44. Clay Corr Input : Yes
Sand Clay ? : No Lime Clay ? : No Dol Clay ? : No
Pef Clay : 3.5 Phie Sw Limit : 0. Phie Limit : 0.
Vcl Limit : 1.

Zone number 4 Basal Jurassic Top : 1581.00 Bottom : 1630.48

Rw : 1.1 Rw Temp : 80. Rmf : 0.231
Rmf Temp : 14.34 Rw bound : 0.18 Rwb Temp : 80.
Rmf bound : 0.18 Rmfb Temp : 80. Rho Sxo zone :
Salin Sxo zone : Rho Wet Clay : 2.75 Rho Dry Clay : 2.8

Bodalla South 17 FEQL Page 13 of 14 29/05/2007

Neu Wet Clay : 0.375 Sonic Wet Clay : 85. Hc Den : 0.8
Neu Hc HI : Den Hc app : GD source : Mlt-Mins
Rho GD : 2.65 Rho GD max : 2.95 Rho GD min : 2.51
Sonic Equ : Wyllie Sonic water : 189. Sonic Cp : 1.
Neu Form Sal : Yes Neu Log Cont : Schlumb Neu Tool Type : CNL
Porosity Method : Neu Den Variable Hc Den : No Variable GD : Yes
Variable Vcl : No Mineral Model : ss/ls/dol OBM ? : No
Phi max : 0.3 Delta Phi max : 0.15 m vari wth Vcl : No
Vcl cutoff : 0.6 Sxo Limit ? : Yes Sxo Limit : 0.2
Sat Equation : Dual water a factor : 1. m exponent : 1.8
n exponent : 1.9 Sxo Method : Rxo m source : Shell
n source : Param Coal Logic : No Salt Logic : No
PhiT Clay : Model Type : U/Rho Sand Umat : 5.8
Lime Umat : 13.8 Dol Umat : 9. Sand RhoMat : 2.65
Lime RhoMat : 2.71 Dol RhoMat : 2.85 Sand Rho True : 2.65
Lime Rho True : 2.71 Dol Rho True : 2.85 Sand DT True : 55.5
Lime DT True : 49. Dol DT True : 44. Clay Corr Input : Yes
Sand Clay ? : No Lime Clay ? : No Dol Clay ? : No
Pef Clay : 3.5 Phie Sw Limit : 0. Phie Limit : 0.
Vcl Limit : 1.

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