KAROON ENERGY LTD — Transaction in Own Shares 2015

Oct 1, 2015

Appendix 3E Daily share buy-back notice

Rule 3.8A

Appendix 3E

Daily share buy-back notice (except minimum holding buy-back and selective buy-back)

Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/9/99. Origin: rule 3.6, Appendix 7C. Amended 30/9/2001, 11/01/10

Name of entity Karoon Gas Australia Ltd.	ABN/ARSN
Karoon Gas Australia Ltd.	53 107 001 338

We (the entity) give ASX the following information.

Information about buy-back

1 Type of buy-back 2 Date Appendix 3C was given to ASX Total of all shares/units bought have been received, before, and 3 Number of shares/units bought back or if buy-back is an equal access scheme, in relation to which acceptances have been received 4 Total consideration paid or payable for the shares/units	On- Market 2 October 2015 back, or in relation to which acceptances on, previous day	On- Market 2 October 2015 back, or in relation to which acceptances on, previous day
	Before previous day	Previous day
	-	198,235
	-	$328,871.87

• See chapter 19 for defined terms.

11/01/2010 Appendix 3E Page 1

Appendix 3E Daily share buy-back notice

5 If buy-back is an on-market buy- back	Before previous day	Previous day
	highest price paid: - date: - lowest price paid: - date: -	highest price paid: $1.695 lowest price paid: $1.635 highest price allowed under rule 7.33: $1.8812

Participation by directors

• 6 Deleted 30/9/2001.

NIL

How many shares/units may still be bought back?

7 If the company/trust has disclosed 24,486,000 an intention to buy back a maximum number of shares/units – the remaining number of shares/units to be bought back

Compliance statement

1. The company is in compliance with all Corporations Act requirements relevant to this buy-back.

or, for trusts only:

1. The trust is in compliance with all requirements of the Corporations Act as modified by Class Order 07/422, and of the trust’s constitution, relevant to this buy-back.

2. There is no information that the listing rules require to be disclosed that has not already been disclosed, or is not contained in, or attached to, this form.

Sign here: ............................................................ Date: 02/10/2015

(Director/Company secretary)

Print name: Mr Scott Hosking

• See chapter 19 for defined terms.

Appendix 3E Page 2

11/01/2010