PO VALLEY ENERGY LIMITED — Director's Dealing 2010

Jun 3, 2010

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity PO VALLEY ENERGY LIMITED

ABN 33 087 741 571

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Byron Antony Pirola
Date of last notice	3 November 2008

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Beronia Investments Pty Ltd – a company ofwhich Mr Pirola is a director and shareholder
Date of change	28 May 2010
No. of securities held prior to change	Direct Interestin 600,000 options overordinary shares exercisable at $1.75 andexpiring 31 May 2011Indirect Interestin 7,112,782 ordinaryshares
Class	Ordinary
Number acquired	Acquired a direct interest in 1,700,000 sharesfrom Beronia Investments Pty Ltd
Number disposed	Beronia Investments Pty Ltd sold 1,700,000shares to Byron Pirola
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$548,000

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	Direct Interest:•1,700,000 ordinary shares•600,000 options over ordinary sharesexercisable at $1.75 expiring on 31May 2011**Indirect Interest:**in 5,412,782 ordinaryshares as follows:•2,132,542 shares held by BeroniaInvestments Pty Ltd•3,280,240 shares held by Beronia FSPty Ltd being the trustee of theBeronia Family Super Fund of whichMrPirolaisatrusteeandbeneficiary.
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Off-market transfer of shares betweenBeronia Investments Pty Ltd and ByronPirola – resulting in acquisition of directinterest in 1,700,000 shares previously heldindirectly.Nochangeinbeneficialownership.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Interest after change

• See chapter 19 for defined terms.

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