Ann: Major Capital Raising to Strategic Cornerstone Investors, page-2

Orca Energy Limited (ASX: OGY) (the Company or Orca) is pleased to announce that it has
entered into a Subscription Agreement (Agreement) with two strategic cornerstone
investors; Bentley Resources Pte Ltd (Bentley) and Trepang Services Pty Ltd (Trepang), to
place 1,504,609,586 fully paid ordinary shares (Shares) to raise a total of A$20m before costs
(Placement). The participants will receive two (2) free attaching options (each with an
exercise price of $0.0133 and an expiry date of 30 June 2018) for every seven (7) shares
subscribed for. The Placement is subject to shareholder approval (see below).
Bentley is an entity controlled by Mr Nathan Tinkler. Mr Tinkler co-founded Aston Resources
Limited (Aston) and has played a significant role in the development of Whitehaven Coal
Limited through its merger with Aston.
Mr Tinkler is well known for his entrepreneurial success investing in coal assets in
Queensland and NSW and has a history of creating significant shareholder value and
attracting major funding. He has been involved in several business acquisitions including the
acquisition and development of the Middlemount project in Queensland in 2006 through
Custom Mining Limited.
It is proposed that upon completion of the Placement, Mr. Tinkler will join the board of Orca
as Executive Chairman and Mr. John Robinson Jnr will also join the board as a Director.
Trepang is an entity controlled by John Robinson Snr and Nick Paspaley. Mr John Robinson
Jnr gained a Bachelor of Accounting from the Charles Darwin University and has led
numerous private equity acquisitions in the property and retail sectors. John also has
extensive experience with the support services that the mining and oil and gas sector require
at Australian operations.
The significant cash injection from Bentley and Trepang, together with the approximate
$5,000,000 the Company expects to have at the completion of the sale of its Cooper Basin
Assets, will provide Orca with the requisite funding to identify, evaluate and as appropriate,
acquire or invest in assets or projects in the energy sector.
Orca Managing Director, Greg Bandy, said, “Orca is delighted to have attracted the financial
support of both Mr Tinkler and Mr Robinson, as well as their corporate experience. We
believe that well capitalised companies with a long-term investment strategy are well placed
to take advantage of a depressed energy sector. Orca is now in a position to do just that.”