KEY PETROLEUM LIMITED — Director's Dealing 2012

Apr 3, 2012

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	KEY PETROLEUM LIMITED
ABN	50 120 580 618

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Lloyd Craig Marshall
Date of last notice	8 December 2011

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevantinterest.	HeldbySeaville Investments PtyLtd<Seaville Super Fund A/C> a companyassociated with Mr Marshall.
Date of change	2 April 2012
No. of securities held prior to change	Nil
Class	Ordinary Shares
Number acquired	1,000,000
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$41,455.99 (including brokerage)
No. of securities held after change	1,000,000 Ordinary Shares
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participationin buy-back	On Market Purchase

• See chapter 19 for defined terms.

04/04/2012 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

	– Change of director’s interestcase of a company, interests which come within paragrain this part.	– Change of director’s interestcase of a company, interests which come within paragrain this part.	s in contractsph (ii) of the definition of “notifiable interest of a director” should	s in contractsph (ii) of the definition of “notifiable interest of a director” should	s in contractsph (ii) of the definition of “notifiable interest of a director” should	s in contractsph (ii) of the definition of “notifiable interest of a director” should
Detail	of contract	N/A
Nature	of interest	N/A
Name(if issu	of registered holdered securities)	N/A
Date o	f change	N/A
No. anwhichchangNote: Detrelation to	d class of securities tointerest related prior toeails are only required for a contract inwhich the interest has changed	N/A
Intere	st acquired	N/A
Intere	st disposed	N/A
Value/Note: If coand an est	Considerationnsideration is non-cash, provide detailsimated valuation	N/A
Intere	st after change	N/A
	–+Closed period
Weredetaile**where **	the interests in the securities od above traded during a+clo prior written clearance was requi			N
			contracts	o
			sed period**red? **
If so,the tra	was prior written clearance providde to proceed during this period?		ed to allow	N/A
If prior written clearance was provided, on whatdate was this provided?	r written clearance was providethi ridd?		d, on what	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts	No
detailed above traded during a+closed period
**where prior written clearance was required? **
If so, was prior written clearance provided to allow	N/A
the trade to proceed during this period?
If prior written clearance was provided, on what	N/A
date was this provided?

4 April 2012

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John Ribbons

Company Secretary

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011