Beach holds a 20 percent interest in offshore Taranaki Basin permit PEP 38482, which it acquired by participating in the drilling of the Kopuwai-1 exploration well in October 2007. The well  discovered a sub-commercial oil accumulation and results are being used to re-assess the remaining prospects and leads in the permit.

Beach also holds a 20% interest in the Canterbury Basin permit PEP 38259, (located off the east coast of New Zealand's South Island) which contains the Barque gas and condensate prospect.  Considerable work needs to be carried out to fully assess Barque, commencing with a marine seismic survey planned for early 2009.  A decision to drill Barque or possibly an alternative location in the permit will be made by the joint venture by August 2010.  The permit provides Beach with exposure to a high upside exploration project in a lightly explored basin.