PACIFIC RESOURCES LIMITED — Interim / Quarterly Report 2016

Apr 26, 2016

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Date : 27 April 2016 To : Australian Securities Exchange Companies Announcement Office Electronic Lodgment System

Dear Sir

ACTIVITIES REPORT FOR QUARTER ENDED 31 MARCH 2016

ACTIVITIES RELATED TO ENERGY PROJECTS:

Coal Projects

The company has undertaken only desktop activities with no drilling in its permits in the quarter. A further review of permit holdings is being conducted in light of the current coal market.

Surat Gas

Coalbank continues to seek opportunities with potential partners to advance exploration of its three petroleum and gas permits in central Queensland.

Farm-in and Farm-out Arrangements

Beneficial percentage interests held in farm-in or farm-out agreements at end of the quarter -

Nil

Beneficial percentage interests in farm-in or farm-out agreements acquired or disposed of during the quarter -

Nil

Coalbank Projects - Tenement Portfolio Update

There were no mining tenements acquired and relinquished during the quarter.

Mining tenements held at the end of the quarter and their locations are as follows:-

TENEMENTPROJECTINTERESTEPC 1414Maranoa River100%EPC 1415Warrego100%EPC 1417Tambo East 1100%EPC 1418Tambo East 2100%EPC 1625Alpha SW 2100%EPC 1632Tambo100%	TENEMENTPROJECTINTERESTEPC 1719Barcoo River/Blackall100%EPC 1993Blackall Sth Corner100%ATP 1072Charleville South100%ATP 1095Augathella East100%ATP 1098Morven South100%

COALBANK LIMITED ABN 20 075 877 075

Level 6 344 Queen Street Brisbane Queensland 4000  GPO Box 762 Brisbane Queensland 4001 Australia T +61 7 3229 6606  F +61 7 3221 6625  info@coalbank.com  www.coalbank.com

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CORPORATE ACTIVITIES:

During the quarter the Company received $100,000 as an unsecured loan from Treasure Wheel Global Limited, a company associated with Mr Anthony Chan, Chairman of Coalbank. Treasure Wheel Global Limited has also provided a further $100,000 subsequent to the end of the quarter. The company is currently holding discussions with potential investors to raise additional funds for future projects.

The company continues to look for opportunities in resource related and other activities. These include acquisitions, joint ventures on current projects and commodity trading which would allow the company to improve its cash flow and provide further funds for development of projects.

Yours faithfully,

Anthony Chan – Chairman

Further information: Andrew Fogg – Chief Executive Officer

Bruce Patrick – Chief Operating Officer

COALBANK LIMITED ABN 20 075 877 075 Level 6 344 Queen Street Brisbane Queensland 4000  GPO Box 762 Brisbane Queensland 4001 Australia T +61 7 3229 6606  F +61 7 3221 6625  info@coalbank.com  www.coalbank.com