CHALLENGER GOLD LIMITED — Major Shareholding Notification 2012

Sep 16, 2012

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Challenger Energy Ltd
ACN/ARSN	123 591 382
1. Details of substantial holder (1)
Name		LQ Super Pty Ltd <lq a/c ("LQ")
ACN/ARSN (if applicable)
There was a change in the interests of the substantial holder on		29/03/2012
The previous notice was given to the company on		26/05/2011
The previous notice was dated		26/05/2011

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
ordinary	17,599,231	8.2%	40,138,092	12.88%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
29/3/2012	LO.	Placement	\$600,000	Ordinary shares - 11,538,462	11,538,462
30/4/2012	LO.	On market	\$60,000	Ordinary shares $-$ 1,000.000	1.000,000
25/6/2012	I.C	Placement	\$250,000	Ordinary shares - 10,000,000	10,000,000

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
LQ	IJΟ	LO	registered holder of securities	Ordinary shares $-$ 40.138.093	40,138,093

an any comme portraits and contact the state of the contact and a state of the commentary comments are commented	Communication of the Communication of the Communication of the Communication ____	________	Program and a state of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the co	The property of the control of the control of the control of the control of
________	was a marmatin a manor or companies or companies of the set of the set of the set of the set of the set of the set of the set of the set of the set of the set of the set of the set of the set of the set of the set of the			--------------------------------------

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Challenger Energy Ltd	Level 17, 500 Collins Street, Melbourne, VIC, 3000
1 LO	c/- Richard Anthon, Hemming & Hart Solicitors, GPO Box 142, Brisbane OLD

Signature

print name	Richard Anthon	capacity	Authorised Signatory
sign here	and the stationary company of the contract	date	14 September 2012/
			www.communication.com THE REAL PROPERTY AND INCOME. ------

DIRECTIONS

• $(1)$ If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) $(a)$ applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or $(b)$ disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired $(7)$ has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write $(8)$ "unknown".

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(9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

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