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HYTERRA LTD Capital/Financing Update 2013

Dec 15, 2013

65084_rns_2013-12-15_3b4961dd-614c-4351-b76e-631c9a66d5bc.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT

16 December 2013 By e-lodgement

PLACEMENT TO RAISE $600,000

Triple Energy Limited (ASX: TNP, Triple , or Company ) advises that it has today arranged the placement of up to 100,000,000 ordinary fully paid shares at a price of $0.006 to raise up to $600,000 in working capital.

The placement will be made to sophisticated investors known to the Company.

The funds will be used to pay ongoing administrative expenses of the Company and to advance discussions with a private equity group that may invest in the Company’s project in China via an issue of new shares in Triple. Shareholder approval is not required for the placement which is within the Company’s existing placement capacity under Listing Rules 7.1 / 7.1A.

Whilst there is no agreement at this stage, Triple has been in meaningful discussions with this investor group over the past few months. This group is seen by the Board as a good fit with Triple having strong experience in the oil and gas and in particular, coal seam gas extraction. These discussions and a due diligence process is ongoing.

Triple announced in November 2013 that Tranche #1 of Performance Shares issued pursuant to the Share Purchase Agreement ( SPA ) dated October 2012 did not vest as the vesting definitions in the SPA were not met by the well results. At the request of the Performance Shareholders, Triple has been in discussions with the Performance Shareholders to consider possible modifications to the SPA. In the interests of keeping shareholders fully informed on this matter, whilst Triple does not consider it is under any obligation to modify the terms of the SPA, provided any modifications are in the interests of all shareholders, it will continue these discussions with the Performance Shareholders in good faith. It should be noted that any modification to the SPA will require shareholder and regulatory approval.

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