METGASCO LTD — Capital/Financing Update 2012

Sep 12, 2012

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ASX/MEDIA RELEASE 13 SEPTEMBER 2012 GLADSTONE FISHERMAN’S LANDING LNG PROJECT GAS SUPPLY PROGRESS

The Directors of Liquefied Natural Gas Limited (ASX: LNG, LNG Ltd ) are pleased to announce that:

• PetroChina International Investment (Australia) Pty Ltd ( PetroChina Australia ) has received confirmation from the Australian Foreign Investment Review Board ( FIRB ) that it has no objection to PetroChina Australia’s purchase of Molopo Energy Limited’s ( Molopo ) Queensland gas assets. Based on Molopo’s announcement ( copy attached ) the transaction now requires the approval of China’s National Development and Reform Commission, which Molopo expects by the end of September 2012.

The significance of the transaction for LNG Ltd is PetroChina Australia’s intention to deliver Molopo’s equity gas, under a proposed tolling arrangement, to LNG Ltd’s proposed 3 million tonne per annum Gladstone Fisherman’s Landing LNG Project, in the Port of Gladstone, Queensland ( LNG Project ).

As announced by LNG Ltd on 2 August 2012, PetroChina Australia and LNG Ltd have entered into a Letter of Intent which states the intention of the parties to work together to secure sufficient gas for the LNG Project’s first LNG train, being a key requirement to enable LNG Ltd to proceed to a final investment decision.

Molopo’s coal seam gas permit areas (owned ~67% by Molopo and 33% by Mitsui) are located only 150 km from Gladstone. Based on a number of independent assessments, the Molopo permit areas have the capacity, subject to Mitsui’s agreement, to produce and deliver up to 65 terajoules/day of gas, representing ~50% of the minimum gas delivery volumes required for the LNG Project.

• Metgasco Limited ( Metgasco ) has announced ( copy attached ) that it has been granted:

  • Renewal of its Petroleum Explorations Licences 13 and 16; and

  • Its first Petroleum Production Lease.

As Metgasco’s largest shareholder (at 10.2%), LNG Ltd welcomes the NSW Government’s announcement of its new policies and regulation in relation to mining and coal seam gas exploration and development in NSW, which now provides appropriate clarity for Metgasco in the structuring and implementation of its future development plans.

The Company’s Managing Director, Mr. Maurice Brand, said “these are two important developments for LNG Ltd, in relation to its strategic investment in Metgasco and ongoing work to secure sufficient gas to assist its 100% owned Gladstone Fisherman’s Landing LNG Project proceed to a final investment decision”.

For further information contact: Mr Maurice Brand Mr David Gardner Managing Director & Joint Chief Executive Officer Company Secretary Telephone: + 61 8 9366 3700 Telephone: + 61 8 9366 3700

Liquefied Natural Gas Limited Ground Floor, 5 Ord Street, West Perth WA 6005 Telephone: (08) 9366 3700 Facsimile : (08) 9366 3799 Email: LNG@LNGLimited.com.au Web site: www.LNGLimited.com.au

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MOLOPO ENERGY LIMITED

ABN 79 003 152 154

ASX ANNOUNCEMENT / MEDIA RELEASE

12 September 2012

QUEENSLAND FIRB CONDITION SATISFIED

Molopo Energy Limited (ASX: MPO) is pleased to announce that the purchaser of Molopo's Queensland assets has received confirmation from the Foreign Investment Review Board ("FIRB") that it has no objections to the transaction. The transaction still requires National Development and Reform Commission ("NDRC") approval, and their response is expected by the end of September 2012. The transaction will close 30 days following receipt of the NDRC approval.

For further details on the transaction please see Molopo's press release dated 1 August 2012.

This press release contains certain forward-looking statements. These statements relate to future events or future performance of the Company. When used in this press release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "predict", "seek", "propose", "expect", "potential", "continue", and similar expressions, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to certain events, and are subject to a number of risks, uncertainties and assumptions. Many factors could cause Molopo’s actual results, performance, or achievements to materially differ from those described in this press release. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in other public disclosures made by the Company or this press release as intended, planned, anticipated, believed, estimated, or expected. Furthermore, statements relating to "reserves" or "resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions that the resources and reserves described can be produced profitably in the future. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary declaration. These statements speak only as of the date of this press release. The Company does not intend and does not assume any obligation, to update these forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.

Issued by:	Molopo Energy Limited
For further information contact:	Cindy Gray, VP Capital Markets +1 403 648 8026
	Joanna Hughes, Investor Relations +61 3 9618 8704

Molopo Energy Limited is an ASX-listed oil and gas exploration and production company. The company is focussed on the development of its shale oil resource play in the Permian Basin, Texas, USA. The company also has unconventional oil assets in the Williston Basin, Saskatchewan, Canada, shale gas assets in Quebec, Canada, a CBM project in Australia (under divestment) and onshore gas projects in South Africa.

Registered Office Level 14, 31 Queen Street, Melbourne, Vic. 3000, Australia GPO Box 223, Melbourne, Vic. 3001, Australia

Telephone: (61 3) 9618 8705 Facsimile: (61 3) 9620 2804 Website: www.molopo.com.au Email: investorrelations@molopo.com.au