HYTERRA LTD — Capital/Financing Update 2014

Oct 12, 2014

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ASX ANNOUNCEMENT

10 October 2014 by e-lodgement

UPDATE ON BLUE SKY POWER HOLDINGS TRANSACTION

The Directors of Triple Energy Ltd (ASX: TNP, “Company”) provide the following update on the proposed funding transaction with Blue Sky Power Holdings Limited, (“BSP”), of Hong Kong, announced on 13 August, 2014.

As previously announced on 28 August 2014, the transaction is no longer subject to due diligence, documentation has been significantly advanced and TNP advises that the transaction remains on track despite the occurrence of delays outside the Company’s control.

TNP is in the process of discussion with BSP regarding a potential amendment to the transaction mechanism such that the provision of a loan to TNP’s Hong Kong subsidiary is proposed to be replaced by an alternate source of funding. The TNP Board will consider the potential amendment further but at this stage does not expect that any resultant variation would materially alter the effect of the transaction for TNP Shareholders (but for the delays already incurred).

Further updates on the transaction will be provided as material developments occur and the TNP Board thanks Shareholders for their continued patience as this matter progresses towards completion.

Commenting on developments, TNP Executive Chairman Paul Underwood said:

“While obviously I understand these developments may be frustrating for our Shareholders at this late stage, we are continuing to work actively and cooperatively with BSP to conclude this transaction”

CONTACT DETAILS FOR FURTHER INFORMATION;

Paul Underwood T: + 61 (0) 408 557 821 E: underwoodpw@tripleenergy.net

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About Triple Energy and the Aolong Joint Venture project

Triple Energy 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 ( Aolong JV ) 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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Approximate Location of CJV areas

The recently drilled Xian Xian-1 well intersected;

• A total of 63.4 meters of coal seams

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

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