EMPEROR ENERGY LIMITED — Proxy Solicitation & Information Statement 2008

Oct 22, 2008

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23 October 2008

Company Announcements Office ASX Level 6 20 Bridge Street SYDNEY NSW 1215

AMENDMENT TO NOTICE OF MEETING DISPATCHED TO SHAREHOLDERS.

Amendments have been marked in Red.

Resolution 4: Explanatory Statement

This resolution is to ratify and approve the issue of 250,000 options to Mr Geoff Geary and 250,000 options to Ms Melanie Leydin, the Company’s exploration manager and Company Secretary respectively, that have an exercise price of $0.20 each and are exercisable by 30 September 2009. These options were granted as bonus remuneration. This ratification and approval would also allow these options not to be deducted from the 15% limit under the ASX Listing Rules on the issuance of equity securities.

Resolution 5: Notice of Meeting and Explanatory Statement

The following statement need to be included as part of Resolution 5

The Company will disregard any votes cast on this resolution by a sophisticated investor who plans to participate in the relevant issue or an associate of a sophisticated investor who plans to participate in the relevant issue. However the Company need not disregard a vote if:

• (a) It is cast, in accordance with the directions on the proxy form, by a person as proxy for a person who is entitled to vote; or

• (b) It is cast, in accordance with the direction on the proxy form to vote as the proxy decides, by the person chairing the meeting as proxy for a person who is entitled to vote.

Yours faithfully

OIL BASINS LIMITED

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MELANIE LEYDIN Company Secretary