Ann: Capital Raising , page-4

""Funds raised from this issue will be used for development of our Tindalo oil project in the Philippines and for working capital purposes.""

hasn't Tindalo already been totally funded..????

hello..it's now producing oil..how much more can they spend..

seems like this is a load of cow stuff.

waiting for the next quarters out goings. i bet they still had enough cash.


Page | 1
21st June 2010 Australian Securities Exchange Limited Company Announcements Office Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Capital Raising The Company is pleased to announce that it has received firm commitments for a capital raising of $6,538,000 by the placement of 46,700,000 ordinary fully paid shares (Shares) at an issue price of 14 cents per Share. The placement has been arranged by Southern Cross Equities Limited to professional and sophisticated investors pursuant to section 708 of the Corporations Act. Funds raised from this issue will be used for development of our Tindalo oil project in the Philippines and for working capital purposes. An Appendix 3B in relation to the issue of Shares will be lodged on final completion of the placement For further information please contact: Mark Fenton Managing Director Phone: +61 8 9388 6711 Capital Structure Shares 514.209 m Unlisted Options 2.500 m Total: 516.709 m Convertible Notes 70.073 m Board of Directors Paul Fry Executive Chairman Mark Fenton Managing Director Laurie Brown Executive Director Jyn Baker Non Exec Director Assets Philippines: h SC 54A - KIK: 30.1% Current Status: Tindalo oilfield currently producing under EWT h SC 54B - KIK: 40% Current Status: Gindara prospect drill ready; Seeking farminee. Kairiki Energy Limited Suite 3, Churchill Court 331 V 335 Hay Street SUBIACO WA 6008 AUSTRALIA Phone: +61 8 9388 6711 Fax: +61 8 9388 6744 Website: www.kairikienergy.com ABN: 34 002 527 906