PATERSON RESOURCES LTD — Interim / Quarterly Report 2009

Apr 29, 2009

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity

UNITED OROGEN LIMITED

	ABN45 115 593 005Consolidated statement of cash flows		Quarter ended (“current quarter”)31 March 2009	Quarter ended (“current quarter”)31 March 2009
			31 March 2009
Cash flows related to operating activities1.1Receipts from product sales and related debtors1.2Payments for(a) exploration andevaluation(b) development(c) production(d) administration1.3Dividends received1.4Interest and other items of a similar naturereceived1.5Interest and other costs of finance paid1.6Income taxes & GST paid / received1.7Other – Option FeesNet Operating Cash Flows		Current quarter$A’000		Year to date(9 months)$A’000
		28(49)NILNIL(210)NIL12NIL2NIL		39(115)NILNIL(633)NIL73NIL5NIL
		(217)		(631)
Cash flows related to investing activities1.8Payment for purchases of: (a)prospects(b)equityinvestments(c)other fixedassets1.9Proceeds from sale of:(a)prospects(b)equityinvestments(c)other fixedassets1.10Loans to other entities1.11Loans repaid by other entities1.12Other (provide details if material)Net investing cash flows1.13Total operating and investing cash flows(carried forward)		NIL(109)NILNIL21NILNILNILNIL		NIL(109)NILNIL21NIL(16)NILNIL
		(88)		(104)
		(305)		(735)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

1.13	Total operating and investing cash flows	(305)	(735)
	(brought forward)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	NIL	5
1.15	Proceeds from sale of forfeited shares	NIL	NIL
1.16	Proceeds from borrowings	NIL	NIL
1.17	Repayment of borrowings	NIL	NIL
1.18	Dividends paid	NIL	NIL
1.19	Other (provide details if material)	NIL	NIL
	Net financing cash flows	NIL	5
		(305)	(730)
	Net increase (decrease) in cash held
1.20	Cash at beginning of quarter/year to date	1,794	2,219
1.21	Exchange rate adjustments to item 1.20
1.22	Cash at end ofquarter	1,489	1,489

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current quarter
		$A'000
		80
1.23	Aggregate amount of payments to the parties included in item 1.2
		NIL
1.24	Aggregate amount of loans to the parties included in item 1.10
1.25	Explanation necessaryfor an understandingof the transactions
	Directors Fees paid to Directors.

Non-cash financing and investing activities

2.1	Details of financing and investing transactions which have had a material effect on consolidated
	assets and liabilities but did not involve cash flows
	N/A

2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest N/A

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

	3.1Loan facilities3.2Credit standby arrangements	Amount available$A’000	Amount used$A’000
		NIL	NIL
		NIL	NIL

Estimated cash outflows for next quarter

• 4.1 Exploration and evaluation

• 4.2 Development Total

$A’000 80 NIL 80

Reconciliation of cash

Recoshowthe re	nciliation of cash at the end of the quarter (asn in the consolidated statement of cash flows) tolated items in the accounts is as follows.	Current quarter$A’000	Previous quarter$A’000
5.15.25.35.4	Cash on hand and at bankDeposits at callBank overdraftOther (provide details)	66	184
		1,423	1,610
	Total: cash at end of quarter(item 1.22)	1,489	1,794

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.

• 5.1 Cash on hand and at bank

• 5.2 Deposits at call

• 5.3 Bank overdraft

• 5.4 Other (provide details)

Changes in interests in mining tenements

6.1Interests in miningtenements relinquished,reduced or lapsed6.2Interests in miningtenements acquired orincreased	Tenementreference	Nature of interest(note (2))	Interest atbeginningofquarter	Interest atend ofquarter
	EL26395	Tenement Surrendered25/03/2009	70%	0%
	E52/2338	Tenement Applied for23/01/2009	0%	100%

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	sued andscription incl	quoted securities at eudes rate of interest and any rede	quoted securities at eudes rate of interest and any rede	nd of current quartermption or conversion rights together	nd of current quartermption or conversion rights together	nd of current quartermption or conversion rights together
							with prices and d		ates.
			Total number		Number quoted	Issue pr	ice per	Amo	unt paid up p	er3)
						security (3) (cents)	see note	secu(cen	rity (see notets)
7.17.2	Prefe+	rence
	secu(descr	ritiesiption)
	Changquarte	es duringr
	(a) Inthrou	creasesh issues
	(b) D	ecreases
	througof cap	h returnsital, buy-
	backsredem	,ptions
7.3+Ordinarysecurities7.4Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buy-backs	+Ordi	naryi	64,762,853		43,112,853
	secur	tes
	Changquarte(a) In	es duringrcreases	NIL
	throu(b) D	gh issuesecreases
7.5+Convertibledebt securities(description)7.6Changes duringquarter(a) Increasesthrough issues(b) Decreasesthroughsecuritiesmatured,converted
7.7Options(description andconversionfactor)7.8Issued duringquarter7.9Exercised duringquarter7.10Expired duringquarter			38,339,300		18,939,300	Exercise price20 cents each		Expiry date04/08/2010
			NIL
			NIL
			NIL
7.11Debentures(totals only)
7.12Unsecurednotes(totalsonly)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

• 2 This statement does give a true and fair view of the matters disclosed.

==> picture [128 x 48] intentionally omitted <==

Sign here: Date: 30 April 2009 (Director/Company secretary)

Print name: DAVID ALAN ZOHAR

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

== == == == ==

• See chapter 19 for defined terms.

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