HYTERRA LTD — Interim / Quarterly Report 2012

Jul 16, 2012

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17 July 2012

The Manager Company Announcements Office Australian Securities Exchange Ltd 4th Floor, 20 Bridge Street SYDNEY NSW 2000

JUNE QUARTER ACTIVITIES REPORT

The Directors of Triple Energy Limited (“Triple” or the “Company”) are pleased to report the following activities:

PROJECT EVALUATION

The Company has been active in evaluating numerous oil and gas opportunities with the objective of developing a focussed portfolio of projects in the oil, gas and energy sector.

Specifically, the Company has made a number of submissions to acquire meaningful oil and gas interests. Whilst negotiations are ongoing on selected projects, no agreements have yet been reached. The Company will keep the market informed with any developments in this regard.

The Company has posted a high level presentation on its website that sets out its current strategy and objectives.

CORPORATE

At the end of the quarter, the Company announced the appointment of Mr Richard Hayward to the Board of Directors, following the resignation of Mr Mathew Walker as had earlier been foreshadowed.

Mr Hayward is an oil and gas industry professional with 24 years of experience, spanning the UK, Africa, SE Asia, Australia and North America.

Mr Hayward’s career to date has been focused on oil and gas field development and production operations with major oil and gas companies, having previously worked for Hess Corp, Woodside and Premier Oil plc. He has had wide experience in asset management, exploration and new ventures and brings a strong understanding of both the commercial and technical aspects of the upstream industry.

Mr Hayward has an honours degree in Geology from Imperial College, London and a Master’s Degree in Basin Evolution and Dynamics from Royal Holloway College, London. He is a fellow of the Geological Society of London and a member of the American Association of Petroleum Geologists and the Society of Petroleum Engineers.

Triple Energy Ltd Suite 9, 1200 Hay Street West Perth WA 6005 Mobile +61 408557821 Office +61 864604960 Email underwoodpw@tripleenergy.net Web www.tripleenergy.net

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He brings valuable technical expertise and experience to the Board in pursuing its oil and gas activities.

Yours faithfully,

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Paul Underwood Executive Chairman

CONTACT DETAILS FOR FURTHER INFORMATION;

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

Triple Energy Ltd Suite 9, 1200 Hay Street West Perth WA 6005 Mobile +61 408557821 Office +61 864604960 Email underwoodpw@tripleenergy.net Web www.tripleenergy.net

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10

Name of entity

Triple Energy Limited

ABN 68 116 829 675	Quarter ended (“current quarter”)
68 116 829 675	30 June 2012

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other Net Operating Cash Flows	Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other Net Operating Cash Flows	Current quarter $A’000	Year to date (3 months) $A’000
		(3) (88) 7	(3) (88) 7
		(85)	(85)
1.8 1.9 1.10 1.11 1.12 1.13	Cash flows related to investing activities Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets Loans to other entities Loans repaid by other entities Other (provide details if material) Net investing cash flows Total operating and investing cash flows (carried forward)
		(85)	(85)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(85)	(85)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (capital raising costs) Net financing cash flows
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(85) 724	(85) 724
	640	640

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
			59
			-
1.25 Explanation necessaryfor an understandingof the transactions Director’s fees, company secretarial fees, rent, administration services and reimbursements. Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest		Explanation necessaryfor an understandingof the transactions
		Director’s fees, company secretarial fees, rent, administration services and reimbursements.
	Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest

• See chapter 19 for defined terms.

Appendix 5B Page 2

17/12/2010

Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	-	-
	-	-

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	50
	-
	-
	50
Total	100

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as	Current quarter	Previous quarter
shown in the consolidated statement of cash flows)	$A’000	$A’000
to the related items in the accounts is as follows.
5.1 Cash on hand and at bank	640	734
5.2 Deposits at call
5.3 Bank overdraft
5.4 Other (provide details)
Total: cash at end of quarter(item 1.22)	640	734

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 3

Appendix 5B Mining exploration entity quarterly report

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

7.1 Preference +securities (description)	Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions
7.3 ~~+~~Ordinary securities	250,000,000	250,000,000
7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs
7.5 ~~+~~Convertible debt securities (description)
7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (description and conversion factor)	15,000,000 15,000,000 15,000,000 15,000,000*		Exercise price $0.03 $0.03 $0.04 $0.04	Expiry date 14/02/2016 14/02/2016 14/02/2016 14/02/2016
7.8 Issued during quarter
7.9 Exercised during quarter
7.10 Expired during quarter	99,000,000	99,000,000	Exercise price $0.06	Expiry date 30/06/2012
7.11 Debentures (totals only)
7.12 Unsecured notes(totals only)

• Subject to vesting conditions

• See chapter 19 for defined terms.

Appendix 5B Page 4

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Appendix 5B Mining exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).

• 2 This statement does give a true and fair view of the matters disclosed.

Sign here: Date: 17 July 2012

Executive Chairman Print name: Paul Underwood

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

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• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 5