HYTERRA LTD — Capital/Financing Update 2013

Aug 29, 2013

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ASX ANNOUNCEMENT

30 August 2013 By e-lodgement

XIAN XIAN #1 WELL RESULTS UPDATE

• Updated technical analysis believed to further confirm prospectivity of the Company’s CMM project in China

• Intersected gross coal seams increased from 45 to 63.4 meters

• 37 meters of gassy coal seams encountered at Seam #11 and below

Triple Energy Limited (ASX: TNP, Triple , or Company ) provides the following update on further interpretation of technical data from the Company’s recently drilled Xian Xian #1 well in Heilongjiang province in the People’s Republic of China.

Triple has now had a technical report prepared based on the well completion report and wireline logs of the well. This report confirms that the well intersected;

• A total of 63.4 meters of coal seams (18.4 meters more than previously reported)

• 47.2 meters of coal seams with a thickness of > 2 meters

• 37 meters of gassy coal seams at Seam # 11 and below

These new (more accurate) wireline logs interpret coal seams of 18.4 meters more than the 45 meters reported in the June 30 Quarterly Activities Report, a total of 63.4 meters. In summary, the coal seam thickness has been a surprise on the upside in this well with numerous seams thicker than 7 meters, against pre-drill prognosis of an average of 3.5 meters.

It is notable that only Seam #11 (at 7.8 meters thickness) and Seam #15 (at 7.2 meters thickness) were tested in this well. This leaves an additional ~ 22 meters of coal seam thickness below Seam #11 that are as yet untested. These seams are considered likely to flow at similar rates to the results observed in the Drill Stem Tests ( DSTs ) conducted on Seams #11 and #15. Gas peaks on mud logs over some of these seams are considered to be significant.

Specifically, a new and significant coal seam just below Seam #15 is now recognized on logs at 7.6 meters thickness.

Based on the increase in total coal seam thickness and conclusions in the well completion report, Triple management believes that a recalculation of the Gas in Place ( GIP ) numbers is expected to result in a significant increase in the GIP volumes previously reported.

Further information on the results can be found in the Company’s AGM Presentation Materials, released today.

Triple Energy Ltd ACN 116 829 675 Unit 15, 100 Railway Road, Subiaco WA 6008 Email underwoodpw@tripleenergy.net Web www.tripleenergy.net

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Commenting on developments, Triple Energy Executive Chairman Paul Underwood said:

“The initial mud logging data has now been refined with the more accurate wireline logging data acquired from the well. This wireline log data combined with the Drill Stem Test (“DST”) data on Seam #11 and Seam #15 appears very promising and demonstrates;

1) Potential for a significant increase in the Gas in Place calculations.

2) Reservoir permeability suitable for an unconventional gas project.

The next step is to drill a second well to acquire pressurised core data for the purposes of evaluating the gas saturation in the coals. This will enable the Company to calculate the amount of gas contained in each cubic meter of coal which then should facilitate the calculation of a “resource” estimate, and possibly “reserves”.

The Company is currently planning this second well and also re-entering the recent Xian-Xian #1 well to side-track and complete as a pilot production well.

This proposed drilling campaign will require the Company to procure further funding, likely by farming-down some of its current 80% interest in the project.

CONTACT DETAILS

T: + 61 (0) 408 557 821

E:underwoodpw@tripleenergy.net

Technical Information contained in this release is based on information reviewed by Gregory Meldrum (a consultant to the Company). Mr. Meldrum has a Degree in Geology from Newcastle University, Newcastle (NSW). He is a member of the Petroleum Exploration Society of Australia and a Certified Petroleum Geologist with the American Association of Petroleum Geologists. Mr. Meldrum has in excess of 40 years experience in petroleum geology and has consented to the inclusion of the information in the form and context in which it appears.

Triple Energy Ltd ACN 116 829 675 Unit 15, 100 Railway Road, Subiaco WA 6008 Email underwoodpw@tripleenergy.net Web www.tripleenergy.net

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About Triple Energy and the Aolong Joint Venture project

Triple Energy Limited is an Australian registered Oil & Gas exploration company listed on ASX. Triple Energy’s ordinary shares trade under the code TNP.

Triple Energy holds an 80% interest in a Cooperative Joint Venture ( CJV , known as Aolong Energy) with LongMay Coal Mining Company ( Longmay ), one of China’s largest State-owned coal mining companies. The CJV has the objective of degassing the coal mining leases held by Longmay and has a life of 45 years.

The equity in the CJV with Longmay is as follows;

Triple Energy Ltd* - 80% (Operator) LongMay Coal Mining Company – 20%

*via its wholly-owned Hong Kong registered subsidiary CFT Heilongjiang (HK) Limited

The CJV operates pursuant to the coal mining leases held by Longmay with the Joint Venture Agreement registered with the relevant Chinese Government authorities. The CJV is staged, initially covering five mine areas, with exclusive access that can ultimately extend the CJV area to cover up to a total of 42 mine areas.

The CJV was formed such that the coals identified for future underground mining by Longmay can be de-gassed and hence facilitate safer mining operations in the future. The coals in the respective lease areas have a history of explosions and fires whilst mining and core drilling, due to high gas content.

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Location of CJV areas

Triple Energy Ltd ACN 116 829 675 Unit 15, 100 Railway Road, Subiaco WA 6008 Email underwoodpw@tripleenergy.net Web www.tripleenergy.net