88 Energy Limited — M&A Activity 2014

Mar 10, 2014

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11 March 2014

The Manager Company Announcements Office Australian Securities Exchange

Dear Sirs

Takeover bid by Tangiers Petroleum Limited for Jacka Resources Limited Notice of status of defeating conditions

I refer to Tangiers Petroleum Limited’s offers under its off market takeover bid for all the ordinary shares and listed options in Jacka Resources Limited.

I enclose, by way of service pursuant to section 630(5)(b) of the Corporations Act 2001 (Cth), the notice of the status of the defeating conditions to the offers required by section 630(3) of the Corporations Act 2001 (Cth).

The takeover offers are currently scheduled to close at 7:00 pm (Sydney time) on 18 March 2014.

Yours sincerely,

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Robert Dalton Joint Company Secretary Tangiers Petroleum Ltd

www.tangierspetroleum.com

ABN 80 072 964 179

Level 2, 5 Ord Street, West Perth WA 6005 PO Box 1674, West Perth WA 6872 Australia Phone +61 8 9485 0990 Fax +61 8 9321 8990

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Tangiers Petroleum Limited

Notice of status of defeating conditions

Section 630(3) of the Corporations Act

To: ASX Limited

Jacka Resources Limited ACN 140 110 130 (‘Jacka’)

Tangiers Petroleum Limited ( Tangiers ) has made offers under an off market takeover bid for all the ordinary shares and listed options in Jacka ( Offers ). The Offers are contained in Tangiers’ bidder’s statement dated 20 January 2014 ( Bidder’s Statement ).

For the purposes of section 630(3) of the Corporations Act 2001 (Cth), Tangiers gives notice that:

• 1 Tangiers has not declared the Offers free from the conditions set out in paragraphs 12.8 and 13.8 of the Bidder’s Statement;

• 2 so far as Tangiers’ knows, the conditions set out in paragraphs 12.8 and 13.8 of the Bidder’s Statement have not been fulfilled and, accordingly, the Offers remain subject to those conditions; and

• 3 as at the date of this notice, Tangiers’ voting power in Jacka is 10.87%.

This notice is dated 11 March 2014.

Signed for and on behalf of Tangiers Petroleum Limited.

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Brent Villemarette Director Tangiers Petroleum Ltd

www.tangierspetroleum.com

ABN 80 072 964 179

Level 2, 5 Ord Street, West Perth WA 6005 PO Box 1674, West Perth WA 6872 Australia Phone +61 8 9485 0990 Fax +61 8 9321 8990