KEY PETROLEUM LIMITED — Major Shareholding Notification 2012

Apr 9, 2012

Citywest Corp Pty Ltd As Trustee For The Copulos (Sunshine) Unit Trust ABN: 49 476 977 153

10/04/2012 1300 135 638 Fax Pages 3 Including cover page

Company Announcements Office Australian Securities Exchange Exchange Centre 20 Bridge St Sydney NSW 2000

Copy to John Ribbons Company Secretary Key Petroleum Limited Suite 7, 154 Hampden Rd Nedlands, WA 6009

Notice of change of interests of Substantial Shareholder under section 671 B of Re: the Corporations Act

Dear Sir / Madam

Enclosed is Form 604 dated 10^th April, 2012.

The Copulos Group of Companies has had a change in its holding of Key Petroleum Limited.

The Copulos Group is a private investment group of companies with significant Interests in the fast food, hotel, healthcare, property development and mining sector.

For the purpose of this notice, 308,072,707 shares on issue were used to calculate the percentage of shares currently held.

Should you have questions or require additional information regarding this notice, please contact Navneet Jyoti on 03 58 228800. You may contact us via e-mail at admin@copgroup.com.au

Regards, Stephen Copulos Managing Director

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Key Petroleum Limited
ACN/ARSN	120 580 618
1. Details of substantial holder(1)
Name ACN/ARSN (if applicable)	Copulos Group 26/03/2012
There was a change in the interests of the substantial holder on	06/12/2010
The previous notice was given to the company on	06/12/2010
The previous notice was dated
2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)		Previous notice		Present notice
		Person's votes	Voting power (5)	Person's votes	Voling power (5)
	Ordinary shares	14.000.000	6.59% based on 212.507.539 shares	17.000.000	5.52% based on 308.072.707 shares

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7) in AUD	Class and number of securities affected	Person's votes affected
24/10/2011	Eyeon Investments Pty Ltd	On market acquisition	\$18,000	ORD 1.000 000	1.000.000
27/03/2012	Eyeon Investments Pty Ltd	On market acquisition	\$96,400	ORD 2,000,000	2.000.000

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Conulos Group	HSBC Custody Nominees Australia Limited as custodian for Eyeon Investments Pty Ltd	Eyeon Investments Pty Ltd	Indirect	ORD 17,000,000	17,000,000

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

__ icable) Name and AC DCK `N≀A . . .	---- . Nature O1 association The Contract Contract of the Contract Of the Contract of the Contract Of the Contract Of the Contract Of the Contract Of the Contract Of the Contract Of the Contract Of the Contract Of the Contract Of the Contract Of the ---
.
------	$- -$

6. Addresses

The address

	Name		Address
	Eyeon Investments Pty Ltd		PO Box 1456, Shepparton, Victoria, 3632
Signature	print name	Stephen Copulos	capacity	Director
	sign here
			Date	10/04/2012

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• Include details of: $(6)$
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of $(a)$ the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of $(b)$ the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.