PTR MINERALS LTD — Capital/Financing Update 2012

Mar 7, 2012

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

ew issue announcement, application for quotation of additional securities and agreement

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 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

PETRATHERM LTD

ABN

17 106 806 884

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued

OPTIONS - UNLISTED

• 2 Number of +securities issued or to be issued (if known) or maximum number which may be issued
• 3 Principal terms of the + securities (eg, if options, exercise price and expiry date; if partly paid + securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

500,000 (FIVE HUNDRED THOUSAND)

OPTIONS – UNLISTED

Number : 500,000 Exercise Price : $0.13 Exercise Period :3 March 2012 – 2 March 2017

+ See chapter 19 for defined terms.

4 Do the + securities rank equally in all respects from the date of allotment with an existing +class of quoted + securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

5 Issue price or consideration NIL

6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)

3 March 2012

N/A

Issued to Managing Director as approved at the Companys General Meeting held on the 2 nd March 2012.

7 Dates of entering + securities into uncertificated holdings or despatch of certificates

		Number	+Class
8	+classNumberandofall+securitiesquotedonASX(including the securities in clause2 if applicable)	148,731,583	Ordinary Shares

+ See chapter 19 for defined terms.

		Number	+Class
9	+classNumberandofall	9,565,000	Options
	+securities not quoted on ASX
	(including the securities in clause
	2 if applicable)

10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

No dividend payable in accordance with current policy.

Part 2 - Bonus issue or pro rata issue

11	Issecurityholderapprovalrequired?
12	Is the issue renounceable or nonrenounceable?
13	Ratio in which the +securities willbe offered
14	+Class of +securities to which theoffer relates
15	+Recorddatetodetermineentitlements
16	Will holdings on different registers(or subregisters) be aggregated forcalculating entitlements?
17	Policy for deciding entitlements inrelation to fractions
18	Names of countries in which theentity has +security holders whowillnotbesentnewissuedocuments
	Note: Security holders must be told how theirentitlements are to be dealt with.
	Cross reference: rule 7.7.
19	Closingdateforreceiptofacceptances or renunciations

+ See chapter 19 for defined terms.

20	Names of any underwriters
21	Amount of any underwriting fee orcommission
22	Names of any brokers to the issue
23	Fee or commission payable to thebroker to the issue
24	Amountofanyhandlingfeepayabletobrokerswholodgeacceptances or renunciations onbehalf of +security holders
25	Iftheissueiscontingenton+security holders' approval, the dateof the meeting
26	Date entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sent topersons entitled
27	If the entity has issued options, andthe terms entitle option holders toparticipate on exercise, the date onwhich notices will be sent to optionholders
28	Date rights trading will begin (ifapplicable)
29	Date rights trading will end (ifapplicable)
30	How do +security holders sell theirentitlementsinfullthroughabroker?
31	How do +security holders sell partoftheirentitlementsthroughabroker and accept for the balance?

+ See chapter 19 for defined terms.

32 How do + security holders dispose of their entitlements (except by sale through a broker)?

33 +Despatch date

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• (a) Securities described in Part 1
• (b) All other securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35 If the + securities are +equity securities, the names of the 20 largest holders of the additional + securities, and the number and percentage of additional + securities held by those holders

36	If the +securities are +equity securities, a distribution schedule of the additional+securities setting out the number of holders in the categories
	1 - 1,000
	1,001 - 5,000
	5,001 - 10,000
	10,001 - 100,000
	100,001 and over

37 A copy of any trust deed for the additional + securities

+ See chapter 19 for defined terms.

Entities that have ticked box 34(b)

38 Number of securities for which +quotation is sought 39 Class of + securities for which quotation is sought 40 Do the + securities rank equally in all respects from the date of allotment with an existing +class of quoted + securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security) Number +Class 42 Number and +class of all + securities quoted on ASX (including the securities in clause 38)

+ See chapter 19 for defined terms.

Quotation agreement

• 1 +Quotation of our additional quote the +securities on any conditions it decides.
• 2 We warrant the following to ASX. ASX.
• The issue of the an illegal purpose. of the +securities to be quoted complies with the law and is not for discretion. ASX complies with securities should be +quotation.
  • There is no reason why those is no +securities should not be granted
  • An offer of the not require disclosure under section 707(3) Corporations Act. offer + securities for sale within 12 months after their issue will require or section 1012C(6) Act. securities for after of the

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty ntity need to from the to

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any that no-one has any right to return any sections 737, 738 or 1016F of the Corporations Act at the time that we request that the chapter additional +securities is in ASX's absolute discretion. ASX may section in any +securities to be quoted and one any right +securities to be quoted under the request +securities be quoted. rities be Act at the
  • If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act time that we request that the a trust, return section of that we that +securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitt claim, action or expense arising from or connected with any breach of the warranties in this agreement. permitted by law in respect of any ed of
• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete. give the will give to before on arrant that and complete............................................................. Date: 8/03/2012 +quotation of

== == == == ==

Sign here: ........................................................... DONALD STEPHENS (Company secretary) DONALD STEPHENS (Company secretary)Stephens

Print name: Donald Stephens

+ See chapter 19 for defined terms.