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Ann: Appendix 3B, page-2

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    0 Issue price or consideration $0.013 per share
    1 6 Purpose of the issue(If issued as consideration for theacquisition of assets, clearlyidentify those assets) o Finalising drilling and undertakingcompletion works on the AmerigoVespucci vertical well;o undertaking a 3D seismic survey over 4.75square kilometres of the Pathfinder Field toassess new production zones;o funding an updated Reserve and Resourcesreport to factor in new production realisedfrom the recently drilled J.W Powell welland Amerigo Vespucci well;o progress the Company’s gas sales strategyincluding pre-construction works on gasgathering and pipeline build planning; ando additional working capital.
 
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