| Rank | Name | Units | % of Issued Capital |
| 1 | BEACH PETROLEUM LIMITED | 29,000,000 | 15.77 |
| 2 | MR SIEW WAH TEH | 4,480,000 | 2.44 |
| 3 | MR RAYMOND DOUGLAS SHAW | 4,372,075 | 2.38 |
| 4 | MR ROBERT PULLAN MRS CARMEL PULLAN | 3,500,000 | 1.90 |
| 5 | CVL RESOURCES (BARBADOS) LTD | 3,042,162 | 1.65 |
| 6 | WASHINGTON H SOUL PATTINSON & CO LIMITED | 2,900,000 | 1.58 |
| 7 | RITA JONES RAYMOND SHAW | 2,835,600 | 1.54 |
| 8 | MR STEPHEN FRANCIS LAMBERT MR NIGEL JOHN LAMBERT
MRS RITA MARY LAMBERT | 2,796,561 | 1.52 |
| 9 | JETAN PTY LTD | 2,518,377 | 1.37 |
| 10 | MR ROBERT NEIL PULLAN | 2,350,000 | 1.28 |
| 11 | ROCKMASTER PTY LTD | 2,233,284 | 1.21 |
| 12 | ANZ NOMINEES LIMITED | 2,132,000 | 1.16 |
| 13 | WHITTINGHAM SECURITIES PTY LIMITED | 2,000,000 | 1.09 |
| 14 | MANDURAH AUTOMATIC TRANSMISSION PTY LTD | 1,648,774 | 0.90 |
| 15 | MR THOMAS MOORE WATT | 1,582,063 | 0.86 |
| 16 | MR YEW MENG CHAY | 1,442,908 | 0.78 |
| 17 | RMG BEER PLUMBING PTY LTD | 1,304,685 | 0.71 |
| 18 | MRS SUZANNE MARY TENCER | 1,201,287 | 0.65 |
| 19 | INGLES SUPERANNUATION PTY LTD | 1,200,000 | 0.65 |
| 20 | NORWONDO PTY LTD | 1,200,000 | 0.65 |
| Top 20 holders of ORDINARY SHARES (GROUPED) as at 22 JULY 2008 | 73,739,776 | 40.09 |