PTR MINERALS LTD — Interim / Quarterly Report 2009

Oct 29, 2009

Appendix 5B

Rule 5.3

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

PETRATHERM LTD

17 106 806 884 30

ABN Quarter ended ("current quarter")

th SEPTEMBER 2009

Consolidated statement of cash flows

Cash flows related to operating activities Current quarter $A'000 Year to date (3.months) $A'000 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration (5,789) (679) (5,789) (679) 1.3 Dividends received 1.4 Interest and other items of a similar nature received 94 94 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Other (Joint Venture Repayments) Other (REDI Grant Proceeds) Other (GDP Grant Funding [GST inc.]) Other (Other Grant Funding) 1,196 341 4,620 143 1,196 341 4,620 143 Net Operating Cash Flows (74) (74) Cash flows related to investing activities 1.8 Payment for purchases of: (a)prospects (b)equity investments (c) other fixed assets (34) (34) 1.9 Proceeds from sale of: (a)prospects (b)equity investments (c)other fixed

assets

1.10 Loans to other entities 1.11 Loans repaid by other entities

1.12 Other (provide details if material)

Net investing cash flows (34) (34)

+ See chapter 19 for defined terms.

1.13	Totaloperatingandinvestingcashflows(brought forward)	(108)	(108)
1.14	Cash flows related to financing activitiesProceeds from issues of shares, options, etc.	450	450
1.151.16	Proceeds from sale of forfeited sharesProceeds from borrowings	-40	-40
1.17	Repayment of borrowings	(2)	(2)
1.181.19	Dividends paidOther (Share issue expenses)	-(3)	-(3)
	Net financing cash flows	485	485
	Net increase (decrease) in cash held	377	377
1.201.21	Cash at beginning of quarter/year to dateExchange rate adjustments to item 1.20	13,002(2)	13,002(2)
1.22	Cash at end of quarter	13,377	13,377

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
1.23Aggregate amount of payments to the parties included in item 1.2	124
1.24Aggregate amount of loans to the parties included in item 1.10	-

1.25 Explanation necessary for an understanding of the transactions Directors' fees, superannuation.

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

NIL

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

NIL

+ See chapter 19 for defined terms.

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available$A'000	Amount used$A'000
3.1	Loan facilities	-	-
3.2	Credit standby arrangements	-	-

Estimated cash outflows for next quarter

	Total	8,668
4.3	Administration Costs	610
4.2	Development	-
	Net Outflow	8,058
	Joint Venture contributions	(2,727)
4.1	Exploration outflow	10,785
		$A'000

Reconciliation of cash

	Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.	Current quarter$A'000	Previous quarter$A'000
5.1Cash on hand and at bank		13,230	12,855
5.2	Deposits at call	147	147
5.3	Bank overdraft
5.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	13,377	13,002

Changes in interests in mining tenements

		Tenement reference	Nature of interest(note (2))	Interest atbeginningof quarter	Interest atend ofquarter
6.1	Interests in miningtenements relinquished,reduced or lapsed
6.2	Interests in miningtenements acquired orincreased

+ See chapter 19 for defined terms.

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.

		Total number	Number quoted	Issuepricepersecurity (see note	Amount paid up persecurity (see note 3)
				3) (cents)	(cents)
7.1	Preference+securities(description)
7.2	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks,redemptions
7.3	+Ordinarysecurities	94,463,673	94,463,673	Fully Paid	Fully Paid
7.4	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks	2,250,000	2,250,000	Fully Paid	Fully Paid
7.5	+Convertibledebt securities(description)
7.6	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthroughsecuritiesmatured,converted

+ See chapter 19 for defined terms.

Appendix 5B Mining exploration entity quarterly report

7.7	Options		Exercise price	Expiry date
	(description and	30,000	$0.40	31/12/2010
	conversion	200,000	$0.32	21/05/2011
	factor)	200,000	$0.37	21/05/2011
		30,000	$0.32	29/05/2011
		650,000	$0.32	30/04/2012
		750,000	$0.37	30/04/2013
		200,000	$0.53	1/01/2012
		40,000	$0.91	4/03/2012
		20,000	$0.91	21/03/2012
		40,000	$0.90	31/05/2012
		400,000	$0.91	31/05/2012
		200,000	$0.97	25/06/2012
		140,000	$1.20	7/01/2013
		400,000	$0.76	6/07/2013
		15,000	$0.67	31/08/2013
		50,000	$0.56	6/10/2013
		450,000	$0.42	27/11/2013
		75,000	$0.50	30/06/2014
7.8	Issued during
	quarter
7.9	Exercised during	2,000,000	$0.20	26/07/2009
	quarter	250,000	$0.20	27/07/2009
7.10	Expired during
	quarter
7.11	Debentures
	(totals only)
7.12	Unsecured
	notes (totals
	only)

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.

Sign here: ............................................................ Date: 29th October 2009

Print name: DONALD STEPHENS (Company secretary)

+ See chapter 19 for defined terms.

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.