HYTERRA LTD — Interim / Quarterly Report 2016

Oct 30, 2016

==> picture [109 x 114] intentionally omitted <==

ASX ANNOUNCEMENT

31 October 2016 by e-lodgement

The Directors of Triple Energy Limited (ASX: TNP , Triple or Company ) are pleased to provide the following update on activities during and since the quarter to 30 September 2016.

Aolong JV Project in Heilongjiang

As previously disclosed, a Joint Venture meeting was held with the State Owned Joint Venture partner, Longmei Coal Mining Company in Harbin in late July 2016.

The joint venture partners are continuing to investigate measures to ensure closer cooperation in the Hegang area to minimize any future development conflicts as well as identifying other project areas suitable for gas production. Triple looks forward to further progress in this regard and working together with its joint venture partner in leveraging the data acquired from the three wells now drilled.

Shaanmei Project Areas and Other New Ventures

As advised during the quarter, Triple has been engaged with the Shaanxi Province State Owned Enterprise, Shaanmei Coal Mining Company (“Shaanmei”).

The Chairman and General Manager of Shaanmei made a visit to Perth in September to meet with Triple Board members and China based management to discuss this cooperation.

Shaanmei has extensive coal mining licensed areas in the Hangcheng area. The current objective is to develop an exclusive and long-term agreement to cover multiple coal seam gas project areas for future cooperation. Documentation has been drafted and Triple remains focussed on completing this long-term cooperation agreement in the near term and welcomes the ongoing constructive dialogue with Shaanmei. Negotiations for the previously reported “Tongchuan” part of this acreage where existing production was expected have been temporarily suspended. This was due to agreed production targets not being reached and after subsequent due diligence enquiries, it was established that these wells required working-over and or re-completing in certain circumstances to reach agreed production levels. Whilst this has caused delays, the Tongchuan acreage area represents only a very small part of the overall Shaanmei acreage under negotiation. Whilst TNP remains interested in the Tongchuan acreage because of its immediate production potential, until production can be established at agreed rates, this area has, for the time being been excised from negotiations. It is possible that this area will be later included.

Shaanmei Coal mining is aware of this and we await updates on the production performance

for the Tongchuan area..

Triple Energy Ltd ACN 116 829 675 Unit 6, 100 Railway Road, Subiaco WA 6008 Email underwoodpw@tripleenergy.net Web www.tripleenergy.net

==> picture [109 x 114] intentionally omitted <==

Triple management is also engaged in meaningful discussions with the owners of other already producing asset interests and / or ready-to-develop oil and gas projects in China.

Corporate & Financial

As of 30 September 2016 the Group’s consolidated cash balance was A$805k, including funds held by the CJV in China but before creditors. An ASX Appendix 5B for the quarter accompanies this activities report.

CONTACT DETAILS FOR FURTHER INFORMATION;

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

Triple Energy Ltd ACN 116 829 675 Unit 6, 100 Railway Road, Subiaco WA 6008 Email underwoodpw@tripleenergy.net Web www.tripleenergy.net

==> picture [109 x 114] intentionally omitted <==

About Triple Energy and its projects

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

NEW PROJECTS

As reported above, negotiations for an exclusive long-term agreement on coal mining areas owned by Shaanmei with immediate gas production potential remain the current focus.

However negotiations for the previously reported on “Tongchuan” part of this acreage where existing production was expected have been temporarily suspended. This was due to agreed production targets not being reached and after subsequent due diligence enquiries, it was established that these wells required working-over and or recompleting in certain circumstances to reach agreed production levels. Whilst this has caused delays, the Tongchuan acreage area represents only a very small part of the overall Shaanmei acreage under negotiation. Whilst TNP remains interested in the Tongchuan acreage because of its immediate production potential, until production can be established at agreed rates, this area has been excised from negotiations. It is possible that this area will be later included.

Shaanmei Coal mining is aware of this and we await updates on the production performance fro the Tongchuan area..

EXISTING PROJECT

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, with exclusive access that can ultimately extend the CJV area to cover up to a total of 42 mine areas.

The CJV has now drilled three wells, one in 2013 and two in 2015.

Triple Energy Ltd ACN 116 829 675 Unit 6, 100 Railway Road, Subiaco WA 6008 Email underwoodpw@tripleenergy.net Web www.tripleenergy.net

TRIPLE ENERGY LIMITED 31 MARCH 2016 QUARTERLY ACTIVITIES REPORT APPENDIX CONTAINING ASX Listing Rule 5.4.3 INFORMATION

• 1) Petroleum tenements held at the end of each quarter and their location.

N/A – Triple does not directly hold any petroleum tenements. Triple 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 with exclusive access that can ultimately extend the CJV area to cover up to a total of 42 mine areas.

• 2) Petroleum tenements acquired and disposed of during the quarter and their location.

None.

• 3) Beneficial percentage interests held in farm-in or farm-out agreements at the end of the quarter.

As disclosed above, Triple 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.

• 4) The beneficial percentage interests in farm-in or farm-out agreements acquired or disposed of during the quarter.

None.

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

+Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas 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, 01/05/13, 01/09/16

Name of entity

Triple Energy Limited

ABN

Quarter ended (“current quarter”)

68 116 829 675 30 September 2016

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(6 months)
			$A’000
1.	Cash flows from operating activities
1.1	Receipts from customers	-	-
1.2	Payments for
	(a) exploration & evaluation	(113)	(265)
	(b) development	-	-
	(c) production	-	-
	(d) staff costs	(154)	(353)
	(e) administration and corporate costs	(288)	(519)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	2	4
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Research and development refunds	-	-
1.8	Other (provide details if material)	-	-
1.9	Net cash from / (used in) operating	(553)	(1,133)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire:
	(a) property, plant and equipment	-	-
	(b) tenements (see item 10)	-	-
	(c) investments	-	-
	(d) other non-current assets	-	-

• See chapter 19 for defined terms

1 September 2016

Page 1

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(6 months)
			$A’000
2.2	Proceeds from the disposal of:
	(a) property, plant and equipment	-	-
	(b) tenements (see item 10)	-	-
	(c) investments	-	-
	(d) other non-current assets	-	-
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received (see note 3)	-	-
2.5	Other (provide details if material)	-	-
2.6	Net cash from / (used in) investing	-	-
	activities
3.	Cash flows from financing activities
3.1	Proceeds from issues of shares	-	1,748
3.2	Proceeds from issue of convertible notes	-	-
3.3	Proceeds from exercise of share options	-	-
3.4	Transaction costs related to issues of	-	-
	shares, convertible notes or options
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans and	-	-
	borrowings
3.8	Dividends paid	-	-
3.9	Other (provide details if material)	-	(197)
3.10	Net cash from / (used in) financing	-	1,551
	activities
4.	Net increase / (decrease) in cash and
	cash equivalents for the period
4.1	Cash and cash equivalents at beginning of
	period	1,372	403
4.2	Net cash from / (used in) operating	(553)	(1,133)
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	-	-
	(item 2.6 above)
4.4	Net cash from / (used in) financing activities	-	1,551
	(item 3.10 above)
4.5	Effect of movement in exchange rates on	(14)	(16)
	cash held
4.6	Cash and cash equivalents at end of	805	805
	period

• See chapter 19 for defined terms

1 September 2016

Page 2

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

5.	Reconciliation of cash and cash	Current quarter		Previous quarter
	equivalents	$A’000		$A’000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances	790		1,357
5.2	Call deposits		-	-
5.3	Bank overdrafts		-	-
5.4	Other (provide details)		15	15
5.5	Cash and cash equivalents at end of	805		1,372
	quarter (should equal item 4.6 above)

6.	Payments to directors of the entity and their associates	Current quarter
		$A'000
6.1	Aggregate amount of payments to these parties included in item 1.2		52
6.2	Aggregate amount of cash flow from loans to these parties included		-
	in item 2.3
6.3	Include below any explanation necessary to understand the transactions included in
	items 6.1 and 6.2

Directors salaries and superannuation

7.	Payments to related entities of the entity and their	Current quarter
	associates	$A'000
7.1	Aggregate amount of payments to these parties included in item 1.2		-
7.2	Aggregate amount of cash flow from loans to these parties included		-
	in item 2.3
7.3	Include below any explanation necessary to understand the transactions included in
	items 7.1 and 7.2

• See chapter 19 for defined terms 1 September 2016

Page 3

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

8.	Financing facilities available	Total facility amount	Amount drawn at
	Add notes as necessary for an	at quarter end	quarter end
	understanding of the position	$A’000	$A’000
8.1	Loan facilities	-		-
8.2	Credit standby arrangements	-		-
8.3	Other (please specify)	-		-
8.4	Include below a description of each facility above, including the lender, interest rate and
	whether it is secured or unsecured. If any additional facilities have been entered into or are
	proposed to be entered into after quarter end, include details of those		facilities as well.

9.	Estimated cash outflows for next quarter	$A’000
9.1	Exploration and evaluation		97
9.2	Development		-
9.3	Production		-
9.4	Staff costs		181
9.5	Administration and corporate costs		250
9.6	Other (provide details if material)		-
9.7	Total estimated cash outflows		528

10.	Changes in	Tenement	Nature of interest	Interest at	Interest
	tenements	reference		beginning	at end of
	(items 2.1(b) and	and		of quarter	quarter
	2.2(b) above)	location
10.1	Interests in mining
	tenements and
	petroleum tenements
	lapsed, relinquished
	or reduced
10.2	Interests in mining
	tenements and
	petroleum tenements
	acquired or increased

• See chapter 19 for defined terms 1 September 2016

Page 4

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

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

Sign here: ............................................................

Date: .31 October 2016

(Company secretary)

Print name: Alexander Neuling

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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, 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. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. See chapter 19 for defined terms 1 September 2016

Page 5