Drillsearch Energy Limited 02

The Panel, Guy Alexander, John Fast and Chris Photakis (sitting President) declined to conduct proceedings on an application by Beach in relation to the affairs of Drillsearch. The Panel considered that there was no reasonable prospect that it would declare unacceptable circumstances in relation to an announcement made by Drillsearch to ASX on 1 June 2009.

Drillsearch Energy Limited 01

The Panel, Guy Alexander, John Fast and Chris Photakis (sitting President), declined to conduct proceedings on an application by Beach in relation to the affairs of Drillsearch. The Panel considered there was no reasonable prospect it would declare unacceptable circumstances, given that Drillsearch had made a clarifying announcement to ASX on 3 June 2009 (after the application was made) and subsequently agreed to dispatch a copy of the announcement.