CHALLENGER GOLD LIMITED — Major Shareholding Notification 2012

Apr 16, 2012

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	CHALLENGER	ENERGY LIMITED
ACN/ARSN	123 SI 382

1. Details of substantial holder(1)

Name	PETREL ENERGY $\angle$ 70
ACN/ARSN (if applicable)	25/ 394 667
The holder ceased to be a substantial holder on	16/4/12
The previous notice was given to the company on	29/21/2
The previous notice was dated	29/2/12

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the
substantial holder was last required

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration given in relation to change(5)	Class (6) and number of securities affected	Person's votes affected
16/2/12	PETREL EVERSY!	ON MACKET	\$419, 797, 58	7,0/9,59/	7,019,591
	LTD.	كممك			BRO SHARES ORD SHARES

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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 -------
	------- __ __ -------- ---------- _____
-------------- --------------------------------------- --------------------------------------- ___	------------ ___ _______

4. Addresses

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

Name	Address
PETREL ENERGY $\mathcal{L}$ $\mathcal{D}$	LEVEL 3 SUITE 303, 10 BRIDGE ST., SYDNEY 2000
CHALLENGER ENERGY LTD.	LEVEL 17 SOO COLLINS ST, MELBOURNE SCOO

Signature

print name	RUSSELL D. LANGUSCH	capacity EXEC DIRECTOR
	sign here $\overline{\mathscr{L}}$	date 16 / 04 / 12