JATCORP LIMITED — Capital/Financing Update 2011

Feb 7, 2011

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ASX/Media Release

8[th] February 2011

JATOIL IN COAL DOUBLE PLAY AFTER SIGNING QUEENSLAND DEAL

• Adds strategic Australian coal assets to pending Kalimantan purchase

• Signs binding letter of intent for permits in the Galilee Basin

• Re-commits to dual coal and biofuels energy growth strategy

Energy company Jatoil Limited (ASX code JAT) today announced the execution of a binding letter of intent to acquire four coal exploration permits and permit applications in the Galilee Basin in central Queensland.

The deal strengthens Jatoil’s dual energy strategy, which is currently being initiated through the pending acquisition of Blackrock Resources Pty Ltd (“Blackrock”), which holds interests in two coal assets in Kalimantan, Indonesia. Jatoil originally was formed to develop a biofuel business through the production of environmentally friendly crude jatropha oil from plantations in Indonesia.

Chief Executive Officer Phil Hodgson said: “Australian investors have responded positively to our announced move into coal. Now, we are taking an opportunity to make Jatoil even more relevant to local investors through the acquisition of valuable Australian coal tenements in the Galilee Basin.

“Our biofuel feedstock business continues to be of great importance” Phil Hodgson continued. “We see enormous potential developing during the next few years in our jatropha project in Central Java, and last week announced that we had hit a production milestone of 200 tonnes of crude jatropha oil. However, we need to boost shareholder value and the coal interests are the right fit for us right now to deliver that.”

The latest coal deal is with a private Australian company, Spinifex Rural Management Pty Ltd. Two of the exploration permits covered by the letter of intent are currently owned wholly by Spinifex, as are the two permit applications. These four areas, covering over 550 square kilometres, are close to tenements held by Adani India’s project, Hancock Mining’s Galilee project development, Clive Palmer’s Minerology Waratah Coal project and Linc Energy tenements in the Richmond area, North Western Galilee basin. These projects all contain very large in-ground resources. Several other Spinifex tenements in the Gallilee basin, as well as the Bowen and Surat basins, are also currently under exclusive negotiations between Jatoil and Spinifex.

The letter of intent covering the purchase of the tenement interests is conditional on Jatoil’s successful acquisition of Blackrock, satisfactory due diligence on the assets and the required shareholder and regulatory approvals. The headline price on completion of the deal will be $200,000 cash plus 5 million ordinary Jatoil shares (on a post-consolidation basis following the Blackrock acquisition), as well as up to 10 million performance shares on achieving a JORC Measured Mineral Resource of 40 million tonnes and a royalty of 1.5 % of gross revenue.

For Further Information

Jatoil: Phil Hodgson, Chief Executive Officer - 02 9571 8300 www.jatoil.net Media: Alan Deans, Last Word Corporate Communications - 0427 490 992

Floor 6, Suite 8, 55 Miller Street, PYRMONT NSW 2009 t +61 2 9571 8300 f +61 2 9571 8200 w www.jatoil.net

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Information on the Spinifex Tenements

EPCA 2020	44 Sub Blocks	Waratah, Minerology coal tenements to the east.
EPC 1988	18 Sub Blocks	Between Waratah Coal and Hancock Mining
EPCA 2166	6 Sub Blocks	North of Linc Energy blocks sold to Adani
EPC 2101	100 Sub Blocks	Adjacent to other Linc Concessions

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Figure 1: Galilee Basin tenements EPCA2020, EPC1988, EPCA2166

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Figure 2: Galilee Basin tenement EPC2101 and surrounding concessions

About Jatoil

Jatoil is an energy company with a core business of developing environmentally friendly, second generation biofuel from jatropha curcas plantation ventures initially in South-East Asia. Jatoil has also announced it would expand its energy resources into coal by entering into a heads of agreement to buy mining projects in Indonesia’s Kalimantan coal region.

Recent ASX/Media Releases

4 February 2011

JATOIL ESTABLISHES ENERGY TRADING DIVISION AS SALES RAMP UP

Jatoil said it would trade energy commodities from this year as a core part of its business, and has strengthened its Singapore operations by appointing an experienced energy commodities trader to the boards of its Singapore subsidiaries. Nick Croom, who will join Jatenergy Holdings Pte Ltd and Jatenergy Indonesia Pte Ltd, has worked in commodity trading and investment banking for 20 years. http://clients.weblink.com.au/clients/jatoil/article.asp?asx=JAT&view=2622770

3 February 2011

JATOIL BIOFUEL PRODUCTION PASSES 200 TONNES – ALL FOR MAJOR AIRLINES

Jatoil achieved production of 200 tonnes of crude jatropha oil (CJO), all of which will be shipped and used as a feedstock for keenly sought after biojet aviation fuel for use by commercial airlines.

http://clients.weblink.com.au/clients/jatoil/article.asp?asx=JAT&view=2622586

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23 December 2010

JATOIL COMPLETES DUE DILIGENCE ON MAJOR KALIMANTAN COAL PROJECT

Due diligence has been completed to Jatoil’s satisfaction on Blackrock Resource Pty Ltd’s major Indonesian project, Katingan, on the island of Kalimantan. Assessments are continuing on several other projects in Blackrock’s portfolio. Katingan has a resource that is estimated to be between 36.4 million tonnes and 43.1 million tonnes, with more than 30 coal outcrops in the exploration permit measuring greater than 6m thickness.

http://clients.weblink.com.au/clients/jatoil/article.asp?asx=JAT&view=2618912

13 December 2010

CHINESE INVESTOR BECOMES CORNERSTONE SHAREHOLDER IN JATOIL

Jatoil executed a share subscription agreement with a company owned by a Chinese electric power and road infrastructure developer, Mr Li Xipeng. Sheng Run Holdings Group (Australia) Pty Ltd has been issued 17,144,888 fully paid ordinary shares in Jatoil at $0.04 per share, to raise $685,796. The placement represents 13.04% of Jatoil’s issued capital.

http://clients.weblink.com.au/clients/jatoil/article.asp?asx=JAT&view=2617058

7 October 2010

JATOIL TO COMMENCE REGULAR BIOFUEL OUTPUT AFTER NEW PLANTATION PURCHASE

Jatoil plans to make regular weekly shipments of crude jatropha oil from its plantations in Central Java, Indonesia, after announcing today the purchase of more oil producing fields. The company’s 70%-owned joint venture, PT Jatoil Waterland, has bought 522 hectares of three to four year old jatropha trees near the 1,000 hectare plantation, which in July yielded Jatoil’s first shipment.

http://clients.weblink.com.au/clients/jatoil/article.asp?asx=JAT&view=2608605

28 September 2010

JATOIL TO EXPAND ITS JATROPHA INVESTMENT IN INDONESIA

Jatoil is to boost its initial jatropha land holdings in Central Java, Indonesia, by 50% as it moves into the second stage of a joint venture. The company has committed to plant 500 hectares of additional land with oil-bearing jatropha curcas trees.

http://clients.weblink.com.au/clients/jatoil/article.asp?asx=JAT&view=2607394

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24 September 2010

JATOIL TO FOCUS INVESTMENT ON INDONESIA AFTER STRATEGIC REVIEW

Jatoil has announced that it would concentrate future investment on its growing Indonesian jatropha biofuel project and its recently announced proposed coal development.

http://clients.weblink.com.au/clients/jatoil/article.asp?asx=JAT&view=2607065

6 September 2010

JATOIL DIVERSIFIES INTO COAL

Jatoil has entered into a Heads of Agreement to acquire significant coal assets in Kalimantan, Indonesia. It is expected that an early-stage coal mining operation would commence within nine months, providing cash flow to assist with the funding of the expansion of Jatoil’s oil feedstock operations in South-East Asia and exploration activities on its acquired coal portfolio.

http://clients.weblink.com.au/clients/jatoil/article.asp?asx=JAT&view=2604846