Beach Energy Limited (Beach) is an Australia-based company. The Company is engaged in oil and gas exploration, development and production and investment in the resources industry. As of June 30, 2012, the Company�s oil and gas reserves of 92.8 million barrels of oil equivalent and contigent resources of 466.6 million barrels of oil equivalent. As of June 30, 2012, Beach held interests in more than 300 exploration and production tenements in Australia, the United States, Egypt, Tanzania and Papua New Guinea. During the year ended June 30, 2012, the drilling program consisted of 89 wells, 83 of which were drilled in the Cooper/Eromanga Basins. The Company's subsidiaries include Beach Petroleum (NZ) Pty Ltd, Beach Oil and Gas Pty Ltd, Beach Production Services Pty Ltd, Beach Petroleum Pty Ltd and Beach Petroleum (Cooper Basin) Pty Ltd. In June 2013, Beach Energy Ltd raised its stake to 46.9% from 42% by acquiring a further 4.9% stake in the ATP 855.