HYTERRA LTD — Capital/Financing Update 2014

Aug 27, 2014

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ASX ANNOUNCEMENT

28 August 2014 by e-lodgement

BLUE SKY POWER HOLDINGS DUE DILIGENCE COMPLETE

The Directors of Triple Energy Ltd (ASX: TNP, “Company”) are pleased to advise that further to the Memorandum of Understanding (“MoU”) entered into with Blue Sky Power Holdings Limited, (“BSP”), of Hong Kong on 13 August, 2014, BSP has confirmed that it is now satisfied with its Due Diligence.

Transaction documentation in accordance with the existing MoU is underway and the transaction is expected to proceed as planned starting with BSP taking a placement of shares in TNP at a price of A$0.005 wherein BSP will ultimately acquire up to 19.90% of TNP (subject to any necessary Shareholder Approvals). Placement shares will be subject to a voluntary twelve month escrow period.

An interest free loan of USD 2 million will be advanced to TNP’s Hong Kong subsidiary by BSP also after the AGM next week to facilitate drilling as soon as possible.

A rights issue will be arranged in due course at a price of AUD 0.006 to raise up to AUD 5.6 million, fully underwritten by BSP. Two Directors of BSP will be appointed to the Board of TNP in due course, with TNP’s senior management team to remain in place.

Canaccord Genuity is acting as the exclusive financial advisor to TNP on 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