SENSEN NETWORKS LIMITED — Capital/Financing Update 2012

Jun 6, 2012

Appendix 3B

New 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

ORPHEUS ENERGY LIMITED ABN 67 121 257 412

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 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)	Fully Paid Ordinary Shares
	17,227,198
	Fully paid ordinary shares

4 Do the[+] securities rank equally in all respects from the date of allotment Yes 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 13 cents per share 6 Purpose of the issue (If issued as consideration for the (i) acquisition of satellite mines acquisition of assets, clearly identify in the South Kalimantan those assets) Kintap Area (ii) drilling and exploration for the B34 Project (iii) working capital 7 Dates of entering[+] securities into uncertificated holdings or despatch 7 June 2012 of certificates Number ~~+~~ Class 8 Number and +class of all +securities quoted on ASX ( including the securities in clause 2 112,294,839 Fully Paid Ordinary if applicable) Shares

• See chapter 19 for defined terms.

Appendix 3B Page 2

1/1/2003

9 Number and +class of all +securities not quoted on ASX (_including_the securities in clause 2 if applicable)	Number	+Class
	19,780,352 8,800,000 12,750,000 1,000,000 1,175,000 500,000 options have lapsed	Ordinary shares (restricted until 17 August 2013) Convertible notes, converting until 31 December 2014 Options exercisable at 20 cents on or before 30 September 2014 (restricted until 17 August 2013) Options exercisable at 25 cents on or before 4 August 2014 (restricted until 17 August 2013) Options exercisable at 20 cents on or before 30 September 2014

10 Dividend policy (in the case of a trust, distribution policy) on No dividend policy has been established the increased capital (interests)

Part 2 - Bonus issue or pro rata issue

Questions 11 to 33 are not applicable

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

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

• See chapter 19 for defined terms.

Appendix 3B Page 4

1/1/2003

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)

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted[+] quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

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

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• 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 at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 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[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here: 7 June 2012

Print name: Nathan Bartrop Company Secretary

== == == == ==

• See chapter 19 for defined terms.

Appendix 3B Page 6

1/1/2003

7 June 2012

SECTION 708A Notice

In accordance with section 708A(5)(e) of the Corporations Act 2001 ( Corporations Act ), Orpheus Energy Limited (“the Company”) provides notice to ASX that:

• 1) The Company has issued 17,227,198 shares (the Placement Shares) without disclosure to investors under Part 6D.2 of the Corporations Act;

• 2) As at the date of this notice, the Company has complied with:

• a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• b) section 674 of the Corporations Act; and

• 3) As at the date of this notice, there is no information:

• a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

• b) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

  • i) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  • ii) the rights and liabilities attaching to the ordinary shares of the Company,

to the extent to which it is reasonable for investors and their professional advisers to expect to find the information in a disclosure document.

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