KEY PETROLEUM LIMITED — Director's Dealing 2014

Jun 15, 2014

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	J.L. Kane Marshall
Date of last notice	18 November 2013

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	(i) Direct (ii) Indirect (iii) Indirect (iv) Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	(i) Held by John Lloyd Kane Marshall (ii) Held by Odyssey Oil Pty Ltd (iii) Held by KJM Consultants Pty Ltd Superannuation Fund A/C> (iv) Held by Enterprise Trustee Company Limited Relevant interest arises by virtue of the power to control the securities or receive a benefit from the securities.
Date of change	(a) 13 June 2014 (b) 13 June 2014 (c) 13 June 2014 (d) 13 June 2014

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	(i) 2,500,000 Ordinary Shares 2,000,000 unlisted options $0.055 expiry 6/8/17 2,000,000 unlisted options $0.064 expiry 6/8/17 2,000,000 unlisted options $0.074 expiry 6/8/17 2,000,000 Performance Rights A 2,000,000 Performance Rights B (ii) 5,500,000 Ordinary Shares 1,000,000 unlisted options $0.055 expiry 6/8/17 1,000,000 unlisted options $0.064 expiry 6/8/17 1,000,000 unlisted options $0.074 expiry 6/8/17 (iii) 4,400,000 Ordinary Shares (iv) 1,000,000 unlisted options $0.055 expiry 6/8/17 1,000,000 unlisted options $0.064 expiry 6/8/17 1,000,000 unlisted options $0.074 expiry 6/8/17
Class	Ordinary Shares Unlisted Options
Number acquired	(a) (i) 2,000,000 unlisted options $0.055 expiry 6/8/17 2,000,000 unlisted options $0.064 expiry 6/8/17 2,000,000 unlisted options $0.074 expiry 6/8/17 (b) (iii) 1,000,000 Ordinary Shares
Number disposed	(c) (ii) 1,000,000 unlisted options $0.055 expiry 6/8/17 1,000,000 unlisted options $0.064 expiry 6/8/17 1,000,000 unlisted options $0.074 expiry 6/8/17 (d) (iv) 1,000,000 unlisted options $0.055 expiry 6/8/17 1,000,000 unlisted options $0.064 expiry 6/8/17 1,000,000 unlisted options $0.074 expiry 6/8/17
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Ordinary Shares – total $13,583.95 Unlisted options - Nil
No. of securities held after change	(i) 2,500,000 Ordinary Shares 4,000,000 unlisted options $0.055 expiry 6/8/17 4,000,000 unlisted options $0.064 expiry 6/8/17 4,000,000 unlisted options $0.074 expiry 6/8/17 2,000,000 Performance Rights A 2,000,000 Performance Rights B (ii) 5,500,000 Ordinary Shares (iii) 5,400,000 Ordinary Shares

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Nature of change Ordinary Shares – on-market trade Example: on-market trade, off-market trade, exercise of Unlisted Options – off-market transfer – no change of options, issue of securities under dividend beneficial interest reinvestment plan, participation in buy-back

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.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

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

K Marshall – 16 June 2014

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3