BANNERMAN ENERGY LTD — Director's Dealing 2007

Dec 19, 2007

Appendix 3Y Change of Director’s Interest Notice

3Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.
Name of entity	Bannerman Resources Limited
ABN	34 113 017 128

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Nathan Bruce McMahon
Date of last notice	13 December 2007

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

in thispart.
Direct or indirect interest	Indirect
Nature of indirect interest	Indirect (1)
(including registered holder)Note: Provide details of the circumstances giving rise tothe relevant interest.	Securities held by Kingsreef Pty Ltd <ATF NB and DL FamilyTrust>, a company in which Mr McMahon has a relevant interest.
	Indirect (2)
	Securities held by ANZ Nominees Limited on behalf of Mr
	McMahon
Date of change	20 December 2007
No. of securities held prior to change	Indirect (1)
	5,975,200 Ordinary Fully Paid Shares
	4,725,000 20 cent options expiring 13/12/10 (Tranche2)
	500,000 $6.50 options expiring 30/11/2010
	500,000 $7.50 options expiring 30/11/2011
	Indirect (2)
	5,830,851OrdinaryFullyPaid Shares
Class	Ordinary Shares
Number acquired	17,500

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$60,500
No. of securities held after change	Indirect (1)5,992,700 Ordinary Fully Paid Shares4,725,000 20 cent options expiring 13/12/10 (Tranche2)500,000 $6.50 options expiring 30/11/2010500,000 $7.50 options expiring 30/11/2011Indirect (2)5,830,851OrdinaryFullyPaid Shares
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestmentplan, participation in buy-back	On market trade

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002