Appendix 3Y Change of Director's Interest Notice Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

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 30/09/01 Amended 01/01/11

Name of entity Drillsearch Energy Limited

ABN 73 006 474 844

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director

Bradley William Lingo

Date of last notice

1 July 2014

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest

Direct

Nature of indirect interest

(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

-

Date of change

18 July 2014

No. of securities held prior to change

(1) 1,345,390 ordinary fully paid shares

(2) 342,742 options exercisable at 59.6 cents each.

Expire 20/06/18.

(3) 1,231,596 options exercisable at 59.6 cents each.

Expire 23/11/18.

(4) 423,226 performance rights which vest on the satisfaction of a continued employment condition and the satisfaction of certain performance conditions as set out in the 2012 Notice of Annual General Meeting.

(5) 595,348 performance rights which vest on the satisfaction of a continued employment condition and the satisfaction of certain performance conditions as at 30 June 2016 and as set out in the

2013 Notice of Annual General Meeting.

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director's Interest Notice

Class

(1) ordinary fully paid shares

(2) options

(3) options

(4) performance rights

(5) performance rights

Number acquired

(1) - (2) - (3) - (4) - (5) -

Number disposed

(1) -

(2) 15,794 options

(3) - (4) - (5) -

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

(1) - (2) Nil (3) - (4) - (5) -

No. of securities held after change

(1) 1,345,390 ordinary fully paid shares

(2) 326,948 options exercisable at 59.6 cents each.

Expire 20/06/18.

(3) 1,231,596 options exercisable at 59.6 cents each.

Expire 23/11/18.

(4) 423,226 performance rights which vest on the satisfaction of a continued employment condition and the satisfaction of certain performance conditions as set out in the 2012 Notice of Annual General Meeting.

(5) 595,348 performance rights which vest on the satisfaction of a continued employment condition and the satisfaction of certain performance conditions as at 30 June 2016 and as set out in the

2013 Notice of Annual General Meeting.

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back

Expiry of options following the testing of performance hurdles

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should

be disclosed in this part.

Detail of contract N/A

+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011

Part 3 - +Closed period Appendix 3Y Change of Director's Interest Notice

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written

clearance was required?

No

If so, was prior written clearance provided to allow the trade to proceed during this period?

N/A

If prior written clearance was provided, on what date was this provided?

N/A

Date lodged: 21 July 2014

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

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