HARTSHEAD RESOURCES NL — Capital/Financing Update 2012

Jul 15, 2012

16 July 2012

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ASX Code: PVD

COMPLETION OF TRANCHE ONE PLACEMENT – NOTICE PURSUANT TO SECTION 708A(6) OF THE CORPORATIONS ACT

As announced on 6 July 2012, Pura Vida Energy NL ( Company ) is conducting a placement to raise up to $3 million pursuant to the issue up to 12 million shares at 25 cents per share to institutional and sophisticated investors ( Placement ). The Company has received firm commitments for all 12,000,000 shares.

The Company wishes to advise that it has now allotted and issued a total of 5,937,500 shares at A$0.25 per share ( Shares ) to raise gross proceeds of $1,484,375 to sophisticated investor clients of CPS Securities and Hartleys under its 15% placement capacity pursuant to ASX Listing Rule 7.1 in accordance with the Placement.

A further 6,062,500 Shares will be issued following shareholder approval at a General Meeting proposed to be held in mid-August 2012. The Company has also issued 100,000 partly paid Shares. These partly paid shares ranked equally with the existing class of partly paid shares.

Secondary Trading Exemption

The Corporations Act 2001 (Cth) ( Act ) restricts the on-sale of securities without disclosure, unless the sale is exempt under Sections 708 or 708A of the Act. By the Company giving this notice, sale of the Shares noted above will fall within the exemption offered by Section 708A(5) of the Act.

The Company hereby advises that, in relation to the issue of the Shares:

• (a) the Company issued the Shares (including the partly paid Shares) without disclosure to investors under Part 6D.2 of the Act;

• (b) as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;

• (c) as at the date of this notice, the Company has complied with section 674 of the Act; and

• (d) as at the date of this notice, there is no excluded information for the purpose of Sections 708A(7) and (8) of the Act in relation to the Company.

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About Pura Vida Energy: Pura Vida is an Australian-based African oil explorer building a portfolio of high quality assets. It has a 75% interest in the Mazagan permit offshore Morocco. Independent resources estimates of the prospective oil resources in the Mazagan permit are 2.4 billion barrels (net to Pura Vida).

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MEDIA

INVESTORS

Thomas Murrell Damon Neaves, Managing Director 8M Media & Communications w: +61 (8)9486 4036 m: +61 417 984 996 m: +61 404 043 134 e: tom@8mmedia.com e: dneaves@puravidaenergy.com.au

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