daytrades april 29 pre-market, page-16

AAE, Great news,AGRI has exercised its Call Options (Option) to acquire Triton Petroleum Pte Ltd (Triton).
drill two wells with total estimated resource potential of over 500 million barrels of oil equivalent (mean recoverable).

AGRI ENERGY EXERCISES OPTION TO ACQUIRE TRITON PETROLEUM

The Directors of emerging oil and gas explorer Agri Energy Limited (ASX: AAE) (Agri or the Company), are pleased to announce the Company has exercised its Call Options (Option) to acquire Triton Petroleum Pte Ltd (Triton).

Commencing mid‐year it is intended to drill two wells with total estimated resource potential of over 500 million barrels of oil equivalent (mean recoverable).

Triton is the holder of a 20% beneficial interest in Syria Block 9, a 10,032km2 petroleum exploration licence in north‐western Syria. Triton and its partners plan to drill two high‐impact exploration wells in the block commencing mid‐year.

Syria Block 9 is located on the north‐eastern flank of the proven Palmyride Basin. The basin hosts discoveries of over 6 trillion cubic feet of gas and 400 million barrels of oil and NGL?s. On 22 March 2011, Agri announced a substantial increase in the resource potential of Syria Block 9 due to the interpretation of new 3D seismic data by the operator, Kulczyk Oil Ventures, and as verified by independent auditors RPS Energy. Commencing mid‐year it is intended to drill two wells with total estimated resource potential of over 500 million barrels of oil equivalent (mean recoverable).

Agri is currently subject to a one day suspension of trading as a result of exercising the Option. This
suspension will be lifted on 2 May 2011.