Ann: Sale of Asset in NSW, Australia - PEL461 , page-2

Sale of asset in NSW, Australia - PEL461


Dart Energy Limited (Dart or the Company, ASX DTE) advises that it has entered into an agreement to sell
its 100% interest in Petroleum Exploration Licence 461 (PEL 461) to the Our Energy Group Pty Ltd (OEG),
subject to regulatory approvals.

PEL 461 is located in the Sydney Basin, southern New South Wales, Australia (see map attached) and
covers approximately 74 km2
with an independently assessed best estimate Original Gas-in-place (OGIP) of
approximately 158 Bcf (assessed by MBA Petroleum Consultants). This represents approximately 0.3% and
0.5% of Dart Energy’s NSW licence area and OGIP respectively.

Subject to completion of transfer, the Company will receive a consideration of A$250,000 and potentially a
further A$250,000 contingent upon certain production milestones or grant of a Petroleum Production
Licence over PEL 461 area in future.

The Company believes that this sale reflects the potential that CSG has to offer in NSW and the substantial
value embedded in the Company’s broader portfolio in NSW which still covers in excess of 25,800 km2

(excluding area covered by PEL 461).

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For and on behalf of the Board
Paul Marshall, Company Secretary