JATCORP LIMITED — Capital/Financing Update 2011

Feb 2, 2011

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Draft ASX/Media Release

3 February 2011

JATOIL BIOFUEL PRODUCTION PASSES 200 TONNES – ALL FOR MAJOR AIRLINES

• First major production milestone of 200 tonnes of Crude Jatropha Oil achieved

• Larger export shipments from Central Java project expected for 2011

• Strong ongoing demand from airline industry for Crude Jatropha Oil

Energy company Jatoil Limited (ASX code JAT) today said it had 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.

Jatoil’s 70%-owned Central Java joint venture, PT Jatoil Waterland, is consistently producing increased quantities of CJO, which is in high demand as airlines strive to meet mandatory new European Union carbon dioxide emission regulations. CJO is an environmentally friendly, second generation biofuel feedstock.

The 200-tonne production milestone comes six months after Jatoil made its inaugural 10-tonne biofuel sale from its Indonesian project to the airline industry..

“We are reaping the rewards of our investment strategy in the PT Jatoil Waterland venture since the initial purchase of 1,000 hectares of mature jatropha trees last June,” said Jatoil’s Chief Executive Officer Phil Hodgson.

“Currently, only limited supplies of renewable oil feedstock is available for biojet fuel, and jatropha provides the necessary qualities that are sought by airline companies. Our operations in Central Java are starting to produce larger quantities, and have recently been visited by representatives from Lufthansa, who have been evaluating supply sources.”

Jatoil’s Central Java partner, Waterland International, has developed appropriate farming and processing practices to satisfy airline certification and accreditation standards. Waterland Chief Executive Officer Drs William Nolten said: “A variety of boxes are being ticked, including biodiversity, community support, employment and environmental impact to achieve the standards that are set.”

The EU’s new emissions trading scheme comes into force next year, but airlines must apply for free emissions allowances by next month and also report on their carbon dioxide emission levels. The scheme applies to all airlines that arrive or depart from an airport within an EU member nation. The use of environmentally friendly fuel can reduce airline operating costs thanks to emission credits available for the use of biojet fuel.

Biojet fuel that is derived from jatropha has been successfully tested by several airlines, and is poised for more widespread use in commercial aircraft in 2011.

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.

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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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

Recent ASX/Media Releases

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

8 July 2010

LANDMARK FOR JATOIL AS FIRST BIOFUEL PRODUCTION COMMENCES

Jatoil has announced its first sale of a commercial quantity of crude jatropha oil. The oil, sourced from the company’s recently purchased joint venture operations in Central Java, Indonesia, comes several months earlier than anticipated and means that regular oil sales will now be made as crops are harvested.

http://clients.weblink.com.au/clients/jatoil/article.asp?asx=JAT&view=2598132

22 June 2010

JATOIL COMPLETES INDONESIAN TRANSACTION FOR FIRST 1,000 HECTARES OF JATROPHA

An initial investment in the PT Jatoil Waterland joint venture in Central Java has been completed, including the formation of a special purpose subsidiary company controlling 1,000 hectares of established jatropha plantations.

http://clients.weblink.com.au/clients/jatoil/article.asp?asx=JAT&view=2596343