Beach holds a 6.36 percent interest in PRL 1, a retention lease over the Pandora offshore gas discovery which has a potential recoverable resource of approximately 1.6 TCF.  Recent activity in this permit included the acquisition of 3D seismic in November and December, 2008 to identify appraisal and exploration opportunities.  Follow-up drilling is scheduled for 2010/2011.  The successful appraisal of this resource is likely to result in a development to produce and market Liquefied Natural Gas (LNG).