KEY PETROLEUM LIMITED — Director's Dealing 2016

Dec 4, 2016

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	JL Kane Marshall
Date of last notice	5 May 2015

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
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> Relevant interest arises by virtue of the power to control the securities or receive a benefit from the securities.
Date of change	1/12/2016 unlisted options issued
No. of securities held prior to change	(i) 3,125,000 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) 6,875,000 Ordinary Shares (iii) 7,500,000 Ordinary Shares

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y

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Appendix 3Y Change of Director’s Interest Notice

Class	Unlisted Options
Number acquired	(i) 20,000,000 unlisted options $0.015 expiry 30/11/2020
Number disposed	Not applicable
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Unlisted options were issued at Nil consideration
No. of securities held after change	(i) 3,125,000 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 20,000,000 unlisted options $0.015 expiry 30/11/20 2,000,000 Performance Rights A 2,000,000 Performance Rights B (ii) 6,875,000 Ordinary Shares (iii) 7,500,000 Ordinary Shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issue of unlisted options pursuant to Shareholder approval at the Company’s Annual General Meeting held on 22 November 2016

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

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

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

Part 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

J L K Marshall – 1 December 2016

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y

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