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KAROON ENERGY LTD Regulatory Filings 2010

Feb 1, 2010

65171_rns_2010-02-01_71461b53-469d-4d56-9900-7119a370929b.pdf

Regulatory Filings

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MARKET RELEASE

2 February 2010

Karoon Gas Australia Limited

TRADING HALT

The securities of Karoon Gas Australia Limited (the “Company”) will be placed in preopen at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Thursday, 4 February 2010 or when the announcement is released to the market.

Security Code: KAR

Kate Kidson Principal Adviser, Issuers (Melbourne)

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2 February 2010

Kate Kidson Companies Advisor Australian Stock Exchange Ltd Melbourne Vic 3000

By Facsimile 03 9614 0303

Dear Kate,

Karoon Gas Australia Ltd hereby requests a trading halt in order to compile an announcement in relation to the current testing program in Karoon’s Browse Basin Acreage.

It is requested that the trading halt be put in place for the earlier of two trading days or when a market release is made. A release will be made as soon as is practicable.

Karoon Gas Australia Ltd is not aware of any reason why the trading halt should not be granted.

Karoon requests that the halt begin immediately, an announcement will be made at the earliest possible time.

Kind Regards,

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Scott Hosking ‐ Company Secretary Karoon Gas Australia Ltd Phone: 03 5974 1044 Fax: 03 5974 1644 Email: [email protected] Website: www.karoongas.com.au

Karoon Gas Australia Ltd. A.B.N. 53 107 001 338

Po Box 469, Mt Martha Vic 3934Phone 59741044 Fax 59741644 Email:[email protected]

www.karoongas.com.au