Jacka Resources Ltd : Convertible note facility 28 October 2013

28 October 2013

Media Release

Jacka secures up to $5.5 Million Convertible Facility

Jacka Resources Limited ("Jacka" or the "Company", ASX: JKA) is pleased to advise that it has reached agreement with the company's largest shareholder for an initial $3.5 million convertible facility ("Facility"), with optionality to expand the Facility to $5.5 million.

The Facility will allow the company to meet its current work program obligations, notably on the Hammamet

West-3 well and continue to progress financing initiatives referred to in the release of 17 October 2013.

The Facility carries a term of 12 months, a quarterly coupon of 12% and is convertible on maturity at a conversion price of $0.11 per share. The investor will be issued 20 million options at $0.14 with a 3 year expiry. Other normal terms and conditions typical of such an agreement will apply and the availability of funding shall be subject to completion of mutually agreeable final documentation and satisfactory due diligence by the investor prior to closing.

Jacka's chairman Mr Scott Spencer commented:

"We are very pleased to have secured the ongoing support of the Company's largest shareholder and can now re-focus on our work program and delivering value from our exciting portfolio of assets."

About Jacka Resources

Jacka is an Australian listed (ASX: JKA), Africa focussed oil and gas exploration and production company with 27 million barrels of 2C contingent resources and over 90 million barrels of prospective resources within its portfolio.

1. Bargou Block Tunisia - Jacka 15%

• Hammamet Oilfield - 100 million barrels oil, 2C contingent resources with a resources review underway by

Operator and due in 2013

• HW-3 recently flowed from open fractures in the Abiod at 1,290 bpd prior to blockages; oil recovered at surface

• JV plans to return and drill a second sidetrack and test in 1H 2014

• the block has additional large Abiod targets in the south of the block and provides exploration upside

2. OML113 Nigeria - Aje Field Jacka 5% (revenue interest)

• Aje field 200 million barrels of oil equivalent

• a three phase development planned with phase I concept FDP due later in 2013

3. Odewayne Block Somaliland - Jacka 30%

• Jacka carried on a minimum work program, estimated to cost $50 million to May 2016

• the Odewayne block is surrounded by multi-billion barrel blocks

• the work to date includes airborne gravity magnetics with plans for a 2D seismic in 2014

ABN 79 140 110 130

Registered Address: Level 11, London House, 216 St Georges Terrace, Perth WA 6000 AUSTRALIA Postal Address: GPO Box 2517 Perth WA 6831 AUSTRALIA

P: +61 8 9481 0389 F: +61 8 9463 6103 E: info@jackaresources.com.au W: www.jackaresources.com. au

4. Ruhuhu Block Tanzania - Jacka 100%

• an entire underexplored rift basin in SW of Tanzania abutting Lake Nyasa

• potential for Multi million barrel and multi TCF potential

• the near term work program to include airborne gravity and magnetics and 2D seismic

For more information please contact:

This document has been prepared by Jacka Resources Limited for the purpose of providing an activity update to interested analysts/investors and shareholders. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any commitments, representations or warranties by Jacka Resources Limited or its directors, agents and employees. Except as required by law, and only to the extent so required, directors, agents and employees of Jacka Resources Limited shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatsoever nature arising in any way out of, or in connection with, the information contained in this document. This document includes certain statements, opinions, projections, forecasts and other material, which reflect various assumptions. The assumptions may or may not prove to be correct. Jacka Resources Limited recommends that potential investors consult their professional advisor/s as an investment in the company is considered to be speculative in nature.
Persons compiling information about Hydrocarbons
Pursuant to the requirements of the ASX Listing Rules 5.11, 5.11.1, 5.12 and 5.13, the technical information provided in this
announcement has been compiled by Justyn Wood , Technical Director of Jacka Resources Limited. Mr Wood is a qualified geophysicist with over 18 years technical, commercial and management experience in exploration for, appraisal and development of oil and gas resources. Mr Wood has reviewed the results, procedures and data contained in this announcement. Mr Wood consents to the inclusion in this announcement of the matters based on the information in the form and context in which it appears.

ABN 79 140 110 130

Registered Address: Level 11, London House, 216 St Georges Terrace, Perth WA 6000 AUSTRALIA Postal Address: GPO Box 2517 Perth WA 6831 AUSTRALIA

P: +61 8 9481 0389 F: +61 8 9463 6103 E: info@jackaresources.com.au W: www.jackaresources.com. au

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