PILOT ENERGY LIMITED — Capital/Financing Update 2012

Nov 21, 2012

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22 November 2012

ASX Market Announcements Office, Australian Securities Exchange Limited, 20 Bridge Street, Sydney NSW 2000

Attention: Shannon Hong

RE: Earth Heat Resources Ltd – EHR Request for Further Extension of Voluntary Suspension

In accordance with Listing Rule 17.2 the Company requests a further extension of the voluntary suspension of its securities until market open on Monday, 26 November 2012. The reasons are:

• The Company is negotiating a new funding facility which will recapitalise the business and expects to make a further announcement on or before Monday, 26 November 2012.

• The Company is negotiating an Underwriting Agreement in respect to a proposed capital raising to facilitate continued operations, to maximise the value of existing assets and seek new opportunities.

• The Company is not aware of any reason why the voluntary suspension should not be granted.

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ME Lucas-Smith Company Secretary