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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

23 January 2012 ASX RELEASE

QUARTERLY ACTIVITIES SUMMARY FOR

THE QUARTER ENDED 31 DECEMBER 2011

Aurora has participated in a substantial operational program through the reporting quarter at the Sugarkane Gas & Condensate Field generating a number of operational and production highlights, which are summarised below:

An updated reserves estimate to 31 October 2011 was generated by Ryder Scott Company. Ryder Scott allocated Aurora total gross proved (1P) reserves of 72.8 mmboe and 79.7 mmboe of proved plus probable (2P) reserves.

On a BOE basis, these figures represent a 400% increase in 1P reserves and 167% increase in 2P reserves from the reserves estimates as at 31 December 2010.

Cash receipts from oil and gas sales were $31 million for the quarter ($22 million after royalties). Cash balance at the end of the quarter was $70 million.

A $300 million senior secured revolving debt facility was executed with a syndicate of banks with an initial $85 million borrowing base, reviewed as production increases. An initial drawdown of $30 million was made during the 4th quarter.

Updated 2012 drilling schedule – further acceleration of development with a revised plan to drill 158 gross (35 net) wells.

A total of 18 gross new wells were drilled in the quarter, 4 wells were being well tested at quarter end and an additional 14 gross (3.7 net) wells were put on production.

At the quarter end there were 71 gross wells on production including 6 farmout wells (12.91 net), 83 gross wells having been drilled and 6 new wells underway.

In addition work-over operations involving the installation of artificial gas lift assemblies were carried out on 10 producing wells in the Excelsior AMI and 5 producing wells in the Longhorn AMI. As wells must be taken off production for work over, these activities have had an impact on produced volumes during the quarter but will be beneficial for long term well performance.

Aurora’s total quarterly production was 553 mmscf of rich gas and 272,237 bbls of condensate and light oil. Net to Aurora, after royalties, total production was 323 mmscf of

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gas, 200,583 bbls of condensate and 34,028 bbls of NGL, which equates to 288,400 boe, an increase of 19% over the previous quarter.

Average gross Aurora production rates during the quarter were 4,257 boe/d including NGL’s. Net to Aurora, after royalties and including NGL’s, average production was 3,135 boe/d. For the month of December Aurora’s effective average production rate was 4,807 boe/d gross and 3,530 boe/d net of royalties including NGL’s.

Activity continued on installation of field infrastructure with 6 out of a total of 9 central facilities operational by the end of the year. A further 3 are scheduled to be completed during the first quarter of 2012. New and existing wells are being tied into these facilities in an incremental fashion.

Sugarkane Field – Eagle Ford Shale Aurora’s primary asset is its interest in the Sugarkane Field in South Texas which is located in the core area of the Eagle Ford shale. Aurora participates in 76,989 highly contiguous gross acres. The former Operator of these interests Hilcorp Energy concluded the sale of its Eagle Ford interests to Marathon Oil EF LLC, a wholly owned subsidiary of Marathon Oil Corporation (NYSE: MRO) (“Marathon”) on 1 November 2011 at which time Marathon became Operator.

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The Company has a net position of 16,365 acres within four Areas of Mutual Interest (“AMIs’) and the varying levels of participation are outlined in the table below.

AMI Working Interest Gross Acreage Net Acreage

Sugarloaf 15.8% 24,033 3,792

Longhorn 31.9% 28,487 9,075

Ipanema 36.4% 4,627 1,684

Excelsior 9.1% 19,842 1,814

Total 76,989 16,365

Drilling activity within Aurora’s acreage continues to be driven by the lease expiry profile. Acreage and leases within a specified area around a producing well are held whilst those wells continue to produce. In accordance with the lease expiry profile much of the drilling during the quarter was located in Longhorn AMI. Aurora completed all 2011 programmed drilling during Q4 2011 and expects to comfortably meet drilling requirements to hold all acreage by production. There are now reportedly over 236 rigs operating within the Eagle Ford trend and a number of participants have reported planned increases in activity for 2012 and beyond.

Operations This section contains a summary of the activities carried out during the reporting quarter. Readers are referred to the monthly operational summary announcements for further details. The following table provides a status, as at the end of the quarter of activities within the Sugarkane Field.

Sugarloaf Longhorn Ipanema Excelsior Total

Farmout Wells

Producing 2 3 1 0 6

Post Farmout Wells

Producing 17.5 19.5 3 25 65

Wells on Test 0 4 0 0 4

Stimulation Underway 0 0 0 0 0

Awaiting Stimulation 0 8 0 0 8

Drilling 0 6 0 0 6

Total 19.5 40.5 4 25 89

This equates to 18 new wells having been drilled and 14 new wells put on production during this reporting quarter. There are also 4 wells currently on test. The map below shows the locations of these wells. In addition work-over operations involving the installation of artificial gas lift assemblies were carried out on 10 producing wells in the Excelsior AMI and 5 producing wells in the Longhorn AMI.

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Sugarkane Well Status - Dec 2011

Longhorn

Sugarloaf

Ipanema

Urrutia #1H

Patino #1H

Kowalik#1RTurnbull #3H

Turnbull #2H

Turnbull#1H

Rancho #1H

Easley #1H

Weston #1H

Kenedy #1H

May #1H

Luna #1HDirect

Assets #1H

Morgan#1H

Franke#1H

Sienkiewicz #1H

Gilley#1H

Turnbull #4H

Yosko #1H

Foster #1H

Jordan#1H

Hollman#1H

Barboza #1H

Excelsior

Chapman Pfiel #1H

Carter #1H

Buehring#1H

PMT #1H

Carter Salge #1H

Best Fenner #1H

Chapman Rothe #1H

Henke A #1HHenke B #1H

HeirholzerSeewald #1H

Best Huth #1H

Kellner Jonas #1H

HeirholzerRetzloff #1H

Esse Smith A #1H

Turnbull #6H

Yosko Borgfield #1H

Turnbull #5H

Pfiefer #1H

Chapman Thompson #1H

Kellner McMahon #1H

Hollub #1H

Esse Smith B #1H

Chapman Schroeder #1H

DeAtley May B #1H

DeAtley May A #1H

Scheele #1H

ChapmanRogers #1H

Yosko Kinkler #1H

Griffin DeAtley A #1HGriffin DeAtley B #1H

Stewart Finlay #1H

DeAtleyHollub #1H

DeAtleyGriffin #1H

Mauch Krueger #1H

Retzloff May #1H

Retzloff Tom #1H

Scheele Huth B #1H

ScheeleHuth A #1H

Holland Opiela #1H

Holland Brown #1H

Oxford #1H

Retzloff Tom #1H

Forister B #1H

Forister A #1HMartinez Henke #1H

Rippstein Gotthardt #1HSalge Kinkler #1H

Salge Busselmen #1H

Beam Meyer #1H

Smith Mellick #1H

May Ryan #B1H

May Ryan #A1H

Sprencel Peck #1H

Vajdos Foegelle #1H

Egbert #1H

Rippstein Rafter #1H

Hedtke #1H

Davenport #1H

RippsteinMikkelson #1H

Medina Jonas #A1H, B1H & C1H

BryschJonas

#1H

StewartGiese #1H

Below is a summary of the well activities carried out within each AMI during the quarter. Where wells have a working interest that differs to the average for the AMI, it is likely that the well is only partially within that AMI. Longhorn AMI (31.9%) The following table summarises the activity that took place on wells within the Longhorn AMI during the reporting period. On the basis of the lease expiry schedule the Longhorn area was the major focus of operational activity during Q4 2011.

Well Working Interest

Activities carried out during the 4th quarter

Spudded Cased Fracced Producing

Scheele Huth A1H 31.86%

Scheele Huth B1H 31.86%

Holland Opiela 1H 29.97% Holland Brown 1H 16.33% Oxford 1H 31.86% Hedtke 1H 31.86% Martinez Henke 1H 31.86% Smith Mellick 1H 31.86% Forister A1H 31.86%

Forister B1H 31.86%

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Medina Jonas A1H 31.86%

Medina Jonas B1H 31.86%

Salge Busselman 1H 31.86%

May Ryan A1H 31.86%

Beam Meyer 1H 31.86%

Rippstein Goddhardt 1H 31.86%

Salge Kinkler 1H 31.86%

Sprencel Peck 1H 31.86%

Medina Jonas C1H 31.86%

May Ryan B1H 31.86%

Rippstein Rafter 1H 31.86%

Egbert 1H 31.86%

Vajdos Foegelle 1H 31.86%

Excelsior AMI (9.1% WI) Although Aurora has its smallest working interest in this AMI, which is within the volatile oil window of the Eagle Ford, the lease expiry schedule for the Excelsior acreage dictated that this area was a focus of drilling in Q3 and a number of those wells were brought on production during the 4th quarter. The following operations have been carried out during this reporting period.




Retzloff May 1H 9.14%

Mauch Krueger 1H 9.14%

DeAtley Hollub 1H 9.14% Mauch Tom 1H 9.14% DeAtley Griffen 1H 9.14% Retzloff Tom 1H 9.14% Stewart Finlay 1H 9.14% Sugarloaf AMI (15.7% WI) There have been no operations within the Sugarloaf AMI during the reporting period. Ipanema AMI (36.4% WI) There have been no operations within the Ipanema AMI during the reporting period. F

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Forward Drilling Schedule At 31 December 2010 there were 20 wells drilled or underway and 15 wells on production. At 31 December 2011 there were a total of 89 wells producing, drilled or underway. During this reporting quarter, 18 new wells have been drilled, 4 are on well test and 14 new wells have been put on production. Aurora achieved its target to spud 89 wells by the end of 2011. On 3 October 2011 Aurora announced the provisional 2012 drilling schedule for the acreage in which it participates, which consists of 158 new wells (35 net wells). This provisional schedule has been agreed with the Operator, Marathon but remains subject to change as development plans evolve. The graph below shows the anticipated gross drilling schedule and location, by AMI, of the wells in each calendar month during 2012.

This drilling schedule contemplates a pilot program to be carried out in two areas to evaluate the opportunity to downspace well locations.

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Production During the reporting period the gross acreage within which the Company participates produced 3.0 bcf and 1,457,521 bbls and 14 new wells have been brought onto production; 7 in Excelsior and 7 in Longhorn (this equates to 3.7 net wells for Aurora). The following table provides the produced volumes and the total recoveries from each AMI. The production is metered at the wellhead and so does not show the produced NGLs. NGLs are subsequently stripped from the produced gas achieving a yield of 80 – 90 bbls/mmscf with a related shrinkage of 20% to gas volumes.

Well

Cumulative Total to date Gross Field Production Q4 2011

Gas (mmscf)

Cond (bbls)

Gas (mscf)

Cond (bbls)

Days

Sugarloaf 7,231 1,609,363 800,084 207,871 1,388

Longhorn 4,267 1,962,395 1,280,663 727,778 2,044

Ipanema 2,196 225,155 371,206 30,787 344

Excelsior 1,122 990,552 553,347 491,085 1,978

Total 14,816 4,787,465 3,005,300 1,457,521 5,754

In the December quarter Aurora produced a total of 553 mmscf of rich gas and 272,237 bbls of condensate and light oil before royalties and before stripping out of NGL’s. After these adjustments the Company’s net production, post royalties, during the quarter is estimated as:

Gas: 323 mmscf Condensate/Oil: 200,583 bbls NGLs: 34,028 bbls

This equates to an average production rate of 4,257 gross boe/d and 3,135 boe/d after royalties and including NGL’s. During the Quarter the operator advised that the Sugarloaf farm in obligation relating to the Easley 1H, Morgan 1H and Rancho Grande 1H wells achieved payout in September 2011 and Aurora now derives revenue from the production of these wells on a post farmout working interest. October 31, 2011 Ryder Scott Company Reserves Report

On 22 December 2011 Aurora announced an updated reserves report. This Report was commissioned to initiate a redetermination of the borrowing base under the $300 million senior secured revolving debt facility. The following tables provide summaries of the reserve estimates generated by Ryder Scott using forecast prices and costs. The first shows the gross Aurora estimates, i.e. before royalty deductions, and the second shows the net Aurora estimates, i.e. post royalty deductions. The report was prepared in accordance with the Canadian National Instrument 51 – 101 Standards of Disclosure for Oil and Gas Activities. The reserve figures generated for the report were as follows:-

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Aurora Gross Reserves

(before royalty interests)

Light and Medium

Oil (Mbbls)

NGLs and Condensate

(Mbbls)

Natural Gas

(MMscf)

BOE

(Mbbls)

Proved Developed Producing 1,920.7 1,468.9 6,065.3 4,400.5

Proved Undeveloped 19,361.9 31,201.0 106,849.6 68,371.2

Total Proved (1P) 21,282.6 32,670.0 112,914.9 72,771.8

Probable 3,537.5 2,003.2 8,097.7 6,890.3

Proved + Probable (2P) 24,820.2 34,673.2 121,012.6 79,662.2

Aurora Net Reserves

(after royalty interests)

Light and Medium

Oil (Mbbls)

NGLs and Condensate

(Mbbls)

Natural Gas

(MMscf)

BOE

(Mbbls)

Proved Developed Producing 1,412.4 1,081.5 4,463.4 3,237.8

Proved Undeveloped 14,256.6 23,118.8 79,085.6 50,556.3

Total Proved (1P) 15,669.0 24,200.2 83,549.1 53,794.1

Probable 2,597.2 1,484.0 5,983.4 5,078.4

Proved + Probable (2P) 18,266.2 25,684.2 89,532.5 58,872.5

Please see the announcement dated 22 December, 2011 for details on net present value and the assumptions used by Ryder Scott to generate these figures.

Credit Facility

On 26 September 2011 Aurora agreed a Commitment Letter from a syndicate of banks comprising UBS Loan Finance LLC, Credit Suisse Ag, Cayman Islands Branch, and Commonwealth Bank of Australia for a US$300 million senior secured revolving credit facility, with an initial $85 million borrowing base available to fund drilling at the Sugarkane Field. During the quarter an initial drawdown of $30 million was made on the facility. Following receipt of The Ryder Scott reserve report with an effective date of 31 October, 2011, a redetermination of the borrowing base was initiated and is expected during the first quarter 2012. During the quarter the banking syndicate was expanded to include Toronto Dominion (New York) LLC. Aurora estimates that the facility secured is sufficient to meet its funding commitments for its Sugarkane acreage. Management continue to review numerous complimentary debt alternatives that have been presented to it that could provide additional financial flexibility to the Company, particularly with regard to funding new opportunities within the Eagle Ford.

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ASX Cash Flow report – “Appendix 5B” Attached is the required ASX quarterly cash flow report for the quarter ended 31 December, 2011. Appendix 5B to the Australian Stock Exchange Listing Rules reports the actual cash receipts and cash expenditures that occurred during the quarter. Aurora is required to file this prescribed report within one month of the end of each quarter. Aurora will file its quarterly financial results and MD & A in accordance with the Canadian securities legislation requirements by 31 March 2012. Cash on hand at 31 December 2011 totalled $70 million. Cash receipts during the quarter from oil & gas sales totalled $31 million. Regional Eagle Ford Shale activity The Eagle Ford shale is accepted as the one of the premier shale plays in the USA. High liquids content, strong well performance (particularly in the core of the trend) and significant regional infrastructure drive attractive economics. As a result activity levels continue to increase with in excess of 236 rigs now reportedly operating on the trend. Participating companies in the trend continue to announce a range of results that conform to a broadly economic trend but superior economics through Live Oak, Karnes and DeWitt counties. Significant levels of corporate activity also continue with resultant consolidation. There are also a number of major new infrastructure projects that are underway or have been announced. These include oil and gas pipelines, refinery upgrades and service companies opening local operations bases. About Aurora Aurora is an Australian and Toronto listed oil and gas company active exclusively in the over pressured liquids rich region of the Eagle Ford Shale in Texas, United States. The Company is engaged in the development and production of oil, condensate and natural gas in Karnes, Live Oak and Atascosa counties in South Texas. Aurora participates in over 76,000 highly contiguous gross acres in the heart of the trend, including over 16,300 net acres within the liquids rich zones of the Eagle Ford.

Technical information contained in this report in relation to the Sugarkane field was compiled by Aurora from information provided by the project operator and reviewed by I L Lusted, BSc (Hons), SPE, a Director of Aurora who has had more than 19 years experience in the practice of petroleum engineering. Mr. Lusted consents to the inclusion in this report of the information in the form and context in which it appears.

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Cautionary and Forward Looking Statements

The Company may present petroleum and natural gas production and reserve volumes in barrel of oil equivalent ("BOE") amounts. For purposes of computing such units, a conversion rate of 6,000 cubic feet of natural gas to one barrel of oil equivalent (6:1) is used. The conversion ratio of 6:1 is based on an energy equivalency conversion method which is primarily applicable at the burner tip and does not represent value equivalence at the wellhead. Readers are cautioned that BOE figures may be misleading, particularly if used in isolation.

Numbers in the tables above may not add due to rounding.

Statements in this press release which reflect management's expectations relating to, among other things, target dates, Aurora's expected drilling program and the ability to fund development are forward-looking statements, and can generally be identified by words such as "will", "expects", "intends", "believes", "estimates", "anticipates" or similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Statements relating to “reserves” are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions that some or all of the reserves described can be profitably produced in the future.These statements are not historical facts but instead represent management's expectations, estimates and projections regarding future events.

Although management believes the expectations reflected in such forward-looking statements are reasonable, forward-looking statements are based on the opinions, assumptions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include risks related to: exploration, development and production; oil and gas prices, markets and marketing; acquisitions and dispositions; competition; additional funding requirements; reserve estimates being inherently uncertain; incorrect assessments of the value of acquisitions and exploration and development programs; environmental concerns; availability of, and access to, drilling equipment; reliance on key personnel; title to assets; expiration of licences and leases; credit risk; hedging activities; litigation; government policy and legislative changes; unforeseen expenses; negative operating cash flow; contractual risk; and management of growth. In addition, if any of the assumptions or estimates made by management prove to be incorrect, actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this document. Such assumptions include, but are not limited to, general economic, market and business conditions and corporate strategy. Accordingly, investors are cautioned not to place undue reliance on such statements.

All of the forward-looking information in this press release is expressly qualified by these cautionary statements. Forward-looking information contained herein is made as of the date of this document and Aurora disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law.

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Appendix 5B Mining exploration entity quarterly report

+ See chapter 19 for defined terms. 17/12/2010 Appendix 5B Page 1

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10

Name of entity

AURORA OIL & GAS LTD

ABN Quarter ended (“current quarter”)

90 008 787 988 31 December 2011

Consolidated statement of cash flows

Cash flows related to operating activities

Current quarter

$US’000

Year to date

(12 Months)

$US’000

1.1 Receipts from product sales and related debtors

31,240 63,370

1.2 Payments for (a) exploration & evaluation

(b) development

(c) production

- well and infrastructure

costs

- operating costs

- royalties

(d) administration

-

-

(8,966)

(1,914)

(8,985)

(3,565)

(390)

-

(74,047)

(3,640)

(17,831)

(8,656)

1.3 Dividends received - -

1.4 Interest and other items of a similar nature

received

60

711

1.5 Interest and other costs of finance paid (1,969) (2,272)

1.6 Income taxes paid - -

1.7 Other (provide details if material) - -

Net Operating Cash Flows 5,901 (42,755)

Cash flows related to investing activities

1.8 Payment for purchases of: (a) prospects

(b) equity investments

(c) other fixed assets

-

(1,009)

(141)

-

(1,569)

(595)

1.9 Proceeds from sale of: (a) prospects

(b) equity investments

(c) other fixed assets

-

-

-

-

-

-

1.10 Loans to other entities - -

1.11 Loans repaid by other entities - -

1.12 Other (provide details if material) - -

Net investing cash flows (1,150) (2,164)

1.13 Total operating and investing cash flows

(carried forward) 4,751 (44,919)

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+ See chapter 19 for defined terms. Appendix 5B Page 2 17/12/2010

1.13 Total operating and investing cash flows

(brought forward) 4,751 (44,919)

Cash flows related to financing activities

1.14 Proceeds from issues of shares, options, etc. 356 41,053

1.15 Proceeds from sale of forfeited shares - -

1.16 Proceeds from borrowings 30,000 30,000

1.17 Repayment of borrowings - -

1.18 Dividends paid - -

1.19 Other (provide details if material)

Issue Costs

(2)

(2,263)

Net financing cash flows 30,354 68,790

Net increase (decrease) in cash held

35,105

23,871

1.20 Cash at beginning of quarter/year to date 35,035 45,997

1.21 Exchange rate adjustments to item 1.20 106 378

1.22 Cash at end of quarter 70,246 70,246

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related entities Current quarter

$US'000

1.23

Aggregate amount of payments to the parties included in item 1.2 (342)

1.24

Aggregate amount of loans to the parties included in item 1.10 Nil

1.25

Explanation necessary for an understanding of the transactions

Director salaries and fees. All payments are on normal contractual terms.

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated

assets and liabilities but did not involve cash flows

N/A

2.2 Details of outlays made by other entities to establish or increase their share in projects in which the

reporting entity has an interest

N/A

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Financing facilities available Add notes as necessary for an understanding of the position.

Amount available

$US’000

Amount used

$US’000

3.1 Loan facilities

55,000 30,000

3.2 Credit standby arrangements

On 26 September 2011 Aurora signed a Commitment Letter for funding by way of a five year

revolving credit facility with availability determined relative to a borrowing base which will be

determined on the basis of proved reserves. The accelerated drilling program through to the end of

2012 will continue to transition reserves to the proved category. The initial borrowing base was set at

an amount of U$85 million on the execution of the facility. An initial drawdown of US$30 million was

undertaken in December 2011. The interest rate will be equal to LIBOR plus a margin, which will

vary, depending on the amount of borrowing base drawn, from LIBOR plus 2.0 per cent up to a

maximum of LIBOR plus 4.0 percent.

Estimated cash outflows for next quarter $US’000

4.1 Exploration and evaluation

-

4.2 Development

-

4.3 Production

64,000

4.4 Administration

3,200

Total

67,200

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as

shown in the consolidated statement of cash flows) to

the related items in the accounts is as follows.

Current quarter

$US’000

Previous quarter

$US’000

5.1 Cash on hand and at bank 69,609 32,205

5.2 Deposits at call 637 2,830

5.3 Bank overdraft - -

5.4 Other (provide details) - -

Total: cash at end of quarter (item 1.22) 70,246 35,035

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Changes in interests in mining tenements Tenement

reference

Nature of interest

(note (2))

Interest at

beginning

of quarter

Interest at

end of

quarter

6.1 Interests in mining

tenements relinquished,

reduced or lapsed

6.2 Interests in mining

tenements acquired or

increased

Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates.

Total number Number quoted Issue price per

security (see

note 3) (cents) AU$=Australian Dollar

C$ = Canadian Dollar

Amount paid up

per security (see

note 3) (cents)

7.1 Preference +securities (description)

- - - -

7.2 Changes during quarter

(a) Increases through

issues

(b) Decreases through

returns of capital, buy-

backs, redemptions

-

-

-

-

-

-

-

-

7.3 +Ordinary securities

411,655,343 411,655,343 Various Fully Paid



issues

Option exercise


returns of capital, buy-

backs

500,000

-

-

A$0.70

-

Fully Paid

-

7.5 +Convertible debt

securities (description)

- - - -



issues


securities matured,

converted

-

-

-

-

-

-

-

-

-

-

-

-

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7.7 Options (description

and conversion factor)

Options

2,250,000

-

Exercise price

A$1.60 – A$2.10

Expiry date

9 Nov 2015

Options

Options

Options

Options

Options

Options

Options

1,500,000

300,000

350,000

350,000

250,000

250,000

250,000

-

-

-

-

-

-

-

A$3.28 – A$5.58

A$3.76

A$4.10

A$4.45

A$3.00

A3.50

A$4.00

30 May 2016

30 Sep 2015

30 Sep 2016

30 Sep 2017

30 Apr 2015

30 Apr 2016

30 Apr 2017

7.8 Issued during quarter

7.9 Exercised during quarter 500,000 500,000 A$0.70 31 Dec 2011

7.10 Expired during quarter - - - -

7.11 Performance Rights 2,190,000 Nil 19 Feb 2015

7.12 Performance rights plan

Change during quarter

(a) Increase through

issue

(b) Exercised during the

quarter

(c) Lapsed during the

quarter

-

-

-

210,000

-

-

-

-

-

-

-

Nil

-

-

19 Feb 2015

7.13 Special Warrants - - - -

7.14 Changes during the

quarter

(a) Increase through

special warrants

issue

(b) Decrease through

securities matured,

converted

-

-

-

-

-

-

-

-

7.12 Debentures (totals only)

- - - -

7.13 Unsecured notes (totals

only)

- - - -

Compliance statement

1 This statement has been prepared under accounting policies which comply with

accounting standards as defined in the Corporations Act or other standards acceptable

to ASX (see note 5).

2 This statement does /does not* (delete one) give a true and fair view of the matters

disclosed.

Sign here: Date: 23 January 2012

(Director/Company secretary)

Print name: Julie Foster

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Notes

1 The quarterly report provides a basis for informing the market how the entity’s

activities have been financed for the past quarter and the effect on its cash position.

An entity wanting to disclose additional information is encouraged to do so, in a note

or notes attached to this report.

2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in

mining tenements acquired, exercised or lapsed during the reporting period. If the

entity is involved in a joint venture agreement and there are conditions precedent

which will change its percentage interest in a mining tenement, it should disclose the

change of percentage interest and conditions precedent in the list required for items

6.1 and 6.2.

3 Issued and quoted securities The issue price and amount paid up is not required in

items 7.1 and 7.3 for fully paid securities.

4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of

Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

5 Accounting Standards ASX will accept, for example, the use of International

Financial Reporting Standards for foreign entities. If the standards used do not

address a topic, the Australian standard on that topic (if any) must be complied with.

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