Additionally Patersons Securities Limited will act as lead manager to a Share Purchase Plan
(SPP). Under the SPP all eligible shareholders will have the opportunity to subscribe for up to
$15,000 worth of fully paid ordinary shares. New shares under the SPP will be offered at the
same price as the Placement, being 25 cents per share, a 18.5% discount to the volume
weighted average share price for the 5 trading days prior to 5 August 2009. No brokerage,
commission or other transaction costs apply to applicants for the shares issued under the SPP.
The SPP is proposed to be capped at 8,000,000 shares to raise up to $2,000,000.
The offer is open to all holders of fully paid ordinary shares registered on the Company’s share
register at the record date of 20 August 2009, with a registered address in Australia and New
Zealand.
The board has taken this step to provide an opportunity for shareholders to increase their
participation in the future growth of the Company on similar terms to those of the Placement.
Monies raised through the Placement and SPP will be used to purchase additional Eagle Ford
shale acreage and to augment working capital.