EQUATORIAL RESOURCES LIMITED — Director's Dealing 2003

Nov 19, 2003

Rule 3.19A.2

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	EQiTX Limited
1A BN	50 009 188 694

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	Dr Kevin John Fahey
Date of last notice	3 July 2003

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.

Direct or indirect interest	Direct
Nature of indirect inferest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant inferest.
Date of change	19 November 2003
No. of securities held prior to change	16,010 Ordinary Shares 1,000,000 Employee Options
Class	Unlisted Options
Number acquired	1,000,000
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issue of Unlisted Options as approved by shareholders at the Annual General Meeting of the Company held on 19 November 2003. Options have an exercise price of \$0.50 cents, expiry 19 November 2006

⁺ See chapter 19 for defined terms.

Appendix 3Y

Part 2 – Change of director's interests in contracts NIL

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.