ODYSSEY GOLD LTD — Major Shareholding Notification 2011

Feb 10, 2011

Page: 1/3

To:

From:

Subject: RE: Form 604 Notice of change of interests of substantial holder

Message: Dear Sirs:

Please find attached the Form 604 on behalf of City Natural Resources High Yield Trust Plc.

Kind regards

Louisa

Louisa Rasmussen Compliance Manager CQS

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+44 (0)20 7201 6900 +44 (0) 20 7 201 1 200 www.cgs.ch

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From: CQS

To: 0061297780999

Page: 2/3

		Form 604 Corporations Act 2001 Section 671B
		Notice of change of interests of substantial holder
To Company Name/Scheme		ODYSSEY ENERGY LTD
ACN/ARSN	116 151 636
1. Details of substantial holder (1)
Name		City Natural Resources High Yield Trust Plc
ACN/ARSN (if applicable)	NIA
There was a change in the interests of the
substantial holder on		09 /02 /2011
The previous notice was given to the company on		27/01/2011
The previous notice was dated		27/01/2011

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:

	Previous notice		Present notice
Class of securities (4)	Person's votes	Voting power (5)	Person's votes	Voting power (5)
IORD NPV ---------------------------------------	40.976.131	9.51% .	41,464,200	110.29%
	$\cdots$		$- 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1$	.

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 or scheme are as follows:

Person whose Date of relevant interest change changed		Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
08/02/2011	City Natural Resources High Yield Trust Plc	RIGHTS EXERCISE	0	488,069 ORD NPV	488.069
City Natural Resources High 31/01/2011 Yield Trust P1c		PURCHASE	AUD 9.761.38	488,069 RIGHTS	488.069

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
I City Resources High	NaturalHSBC Custody Nominees Yield (Australia)	HSBC Custody Nominees (Australia)	$\sim$	41,464,200 ORD INPV	41.464.200
Trust Plc	Limited	Limited

$\mathcal{L}_{\text{max}}$

From: CQS

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:

Name and ACN/ARSN (if applicable) ---------------------------------------	Nature of association ---------
IN/A _________ .	_________ ---------------------------------------
_______	---------------------------------------

6. Addresses

The addresses of persons named in this form are as follows:

Name				Address
Trust Plo				$ City$ Natural Resources High Yield $ C/O$ -CQSASSET MANAGEMENT LIMITED. $5Th$ FLOOR, 33 CHESTER STREET, LONDON ISW1X7BL UK

Signature

	print name KATE HASWELL	capacity	COMPLIANCE OFFICER, CQS ASSET MANAGEMENT
sign here	Ø ∾	date	10/02 /2011

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.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ Include details of:
• $(a)$ any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ 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 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.