BLUE ENERGY LIMITED. — Interim / Quarterly Report 2013

Oct 25, 2012

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

Blue Energy Limited

ABN 14 054 800 378	Quarter ended (“current quarter”)
14 054 800 378	30 September 2012

Consolidated statement of cash flows	Consolidated statement of cash flows
Cash flows related to operating activities 1.1 Receipts from refunds of goods and services tax 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (R&D Refund/BBY Settlement) Net Operating Cash Flows	Current quarter $A’000	Year to date (3 months) $A’000
	139 (2,157) - - (518) - 244 - - -	139 (2,157) - - (518) - 244 - - -
	(2,292)	(2,292)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 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 – Investment in shares Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	- - (14) - - - - - -	- - (14) - - - - - -
	(14)	(14)
	(2,306)	(2,306)

• See chapter 19 for defined terms.

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1.13 Total operating and investing cash flows (brought forward)	(2,306)	(2,306)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, (less costs) 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (capital raising costs) Net financing cash flows	- - - - - -	- - - - - -
	-	-
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(2,306) 21,909 -	(2,306) 21,909 -
	19,603	19,603

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2** Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		267
		-
1.25	Explanation necessaryfor an understandingof the transactions
	** Directors’ fees and consulting fees paid to Directors or companies related to Directors. Includes Managing Directors salary payments of $93,751 and Executive Directors salary payments of $50,000.

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

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	-	-
	-	-

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	(3,000)
	-
	-
	(700)
Total	(3,700)

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as	Current quarter	Previous quarter
shown in the consolidated statement of cash flows)	$A’000	$A’000
to the related items in the accounts is as follows.
5.1 Cash on hand and at bank	2,814	2,619
5.2 Deposits at call	16,789	19,289
5.3 Bank overdraft	-	-
5.4 Other (provide details)	-	-
Total: cash at end of quarter(item 1.22)	19,603	21,908

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
	N/A
	N/A

• See chapter 19 for defined terms.

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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 note3) ($)	Amount paid up per security (see note3) ($)
7.1 Preference +securities 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs,redemptions	-	-
	- -	- -	- -	- -
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	1,139,447,698	1,139,447,698
	150,870 -	150,870 -	- - -	- - -
7.5 +Convertible debt securities 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	-	-
	- -	- -
7.7 Options 25 cent Options Qtr1 08-09 25 cent Options Qtr3 08-09 25 cent Options Qtr4 08-09 25 cent Options Qtr 2 09-10 25 cent Options Qtr 3 09-10 25 cent Options Qtr 3 09-10 Rights Qtr 2 10-11 Rights Qtr 2 11-12 J. Ellice-Flint sign on issue Q2 11-12 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	3,500,000 60,000 2,500,000 5,200,000 4,000,000 1,640,000 8,624,000 7,517,000 82,473,000	- - - - - - - - -	Exercise price 0.25 0.25 0.25 0.25 0.25 0.25 0.00 0.00 0.0625	Expiry date 02/01/13 – 30/06/13 09/01/14 01/05/14 04/12/14 16/02/13 11/03/15 30/06/13 30/06/14 05/04/2017
	-	-	-	-
	167,000	150,870	-	-
	-	-	Exercise price -	-
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

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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 4).

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

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Sign here: ............................................................ Date: 25/10/2012 ( ~~Director/~~ Company secretary)

Print name: Stuart Owen

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 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

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

• See chapter 19 for defined terms.

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