MEO Australia : announces Share Purchase Plan

MEO Australia Limited

ABN 43 066 447 952

ASX & Media Release

• MEO launches Share Purchase Plan ("SPP" or "Offer") to existing shareholders to fund Phase-

1 program of the New Zealand (Puka) farm-in.

• SPP offered at 20% discount to the average market price of MEO's shares quoted on the ASX

during the 5 trading days immediately prior to and including the SPP closing date.

• Patersons Securities Limited is Lead Manager and Underwriter to the Offer and has underwritten the SPP to MEO's 15% placement capacity.

MELBOURNE, AUSTRALIA (10th April, 2014)

MEO Australia Limited (ASX: MEO) advises that it will be offering existing eligible shareholders the opportunity to participate in the SPP. Shareholders who are recorded on the share register as at
7:00pm AEST on Wednesday 9th April, 2014 with a registered address in either Australia or New
Zealand will be eligible to participate in the SPP.
The SPP is partially underwritten by Patersons Securities Limited to MEO's 15% placement capacity and will raise in the order of A$2.9 million depending on final pricing. MEO reserves the right to accept oversubscriptions above the underwritten amount at its discretion as permitted by the ASX Listing Rules. Funds raised will be used for the firm Phase I work program designed to enhance production from the Puka oil accumulation, onshore New Zealand (refer details in ASX release dated 7th April 2014).
Under the SPP, each eligible shareholder will be entitled to apply for up to A$15,000 of new shares without incurring brokerage or transaction costs. The issue price will be determined at the conclusion of the SPP and will be the price that is a 20% discount to the average market price of MEO's shares quoted on the ASX in the 5 trading days immediately prior to and including the closing date of the SPP. Directors who are eligible to participate intend to apply for their maximum allocation of shares under the Offer.
All new shares under the SPP will rank equally with existing ordinary shares in the Company. A summary of key dates is listed overleaf. Full details of the SPP are expected to be posted to all eligible shareholders on 15th April, 2014.
The SPP is not subject to shareholder approval and is expected to close on 7th May 2014.

"The SPP offers existing eligible shareholders the first opportunity to support our entry into New

Zealand through which we are seeking to provide an operating income to sustain the Company."

Jürgen Hendrich

Managing Director & Chief Executive Officer

Important dates

Note: dates shown are indicative and subject to change without advance notice.

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