For immediate release - 6 July 2016

Ref. #045/16

ASX Ltd

Companies Announcement Office Electronic Lodgement System

June 2016

AUSTRALIA - COOPER AND EROMANGA BASINS DEVELOPMENT

South Australian Gas

(Fixed Factor Area Joint Venture: Beach 20.21%, Santos 66.6% and operator, Origin 13.19%)

A five‐well development campaign progressed in the Tirrawarra - Gooranie Field, which is located approximately 50 kilometres north of the Moomba processing facility. The 2011 Patchawarra Study and subsequent drilling campaigns identified potential for further development of this area. The current campaign is targeting gas and gas liquids within the Patchawarra Formation and oil within the basal Patchawarra Formation and Tirrawarra Sandstone. The second and third wells of the campaign, Tirrawarra‐92 and Tirrawarra‐91, respectively, were cased and suspended as future producers following high‐side gas and oil pay outcomes, as summarised below.

The fourth well of the campaign, Tirrawarra‐90, was spudded subsequent to month‐end.

EXPLORATION AND APPRAISAL

Queensland Gas

(Beach 23.2%, Santos 60.06% and operator, Origin 16.74%)

A three‐well appraisal campaign progressed in the Coolah Complex, which is located approximately 50 kilometres north of the Ballera processing facility. The campaign aims to appraise field limits and collect sufficient information to form a development plan for the Coolah Field. The campaign is targeting sands within the Toolachee Formation, with the Patchawarra Formation providing a secondary target. Targets were identified from 3D seismic acquired over the Coolah area in 2015, which complemented past 3D seismic across the Barrolka Field to the north and Durham Downs Field to the south. The first two wells of the campaign, Dunadoo‐1 and Coolah‐3, respectively, were cased and suspended as future producers following identification of gas pay in the Toolachee Formation, which was in line with pre‐drill estimates. Dunadoo‐1 encountered net gas pay of 15 metres within a 71 metre gross section, and Coolah‐3 encountered net gas pay of 16 metres within a 74 metre gross section. The final well of the campaign, Coolah‐4, was spudded subsequent to month‐end.

EGYPT

EXPLORATION AND APPRAISAL

Abu Sennan Concession

(Beach 22%, Kuwait Energy 50% and operator, Dover 28%)

The Al Jahraa SE‐1X oil exploration well is located approximately six kilometres southeast of the Al Jahraa‐1 discovery well. The well reached total depth of 3,361 metres in the Bahariya Formation and will be cased and completed. The well intersected approximately 16.4 metres of net pay within the target Abu Roash "C" Member, secondary Abu Roash "E" Member and secondary Upper Bahariya Formation. Production testing is currently underway.

Monthly Drilling Report - Period ended 06:00, 1 July 2016

Janet Skinner

Under delegation of authority for:

Mike Dodd

Group Executive Exploration and Development

For more information, contact the following on +61 8 8338 2833 Corporate

Janet Skinner Manager Growth

Investor Relations:

Derek Piper Investor Relations Manager