ASX Release


23 October 2014
ASX Markets Announcements
Australian Stock Exchange Limited
10th Floor, 20 Bond Street
Sydney NSW 2000
Dear Sirs

PAUSE OF LIND FUNDING

The Directors of Oil Basins Limited (OBL or the Company) make the following ASX
announcement.
On 17 March 2014 OBL announced that it had secured a funding agreement, with The Australian Special Opportunity Fund, LP a New York-based institutional investor managed by The Lind Partners, LLC (collectively Lind), for a total funding commitment of up to AU$7.25 million.
Further to that announcement, OBL wishes to now advise that with the successful completion of the recent September Placement and Share Purchase Plan, the Company has requested and obtained as contemplated in the Lind transaction 3 month pause of the ongoing monthly Tranche issuances.
Yours faithfully

Neil Doyle SPE Director & CEO

About Oil Basins Limited

Oil Basins Limited (OBL) is an oil and gas exploration and development company with projects in Victoria and Western Australia. The company aims to establish strategic production hubs in or near known mature basins.
OBL has a diverse portfolio in low risk mature basins where it has the following exploration and development assets in prospective settings:

Offshore Carnarvon Basin (100% & operator) - Cyrano Oil Project

Canning Basin (100% & operator) Backreef Area Oil/USO

Canning Basin (50% & operator**) EP 487 Derby Block USG & future Export LNG

Offshore Gippsland Basin (non-operator) - OBL Group 25% Vic/P47 (two undeveloped gas fields) and OBL Group 35.395% Vic/P41 - conventional oil and gas.

** This may become 100% as a result of an application to the WA State Administrative Tribunal (hearings and submissions complete and decision presently pending).
The Company's business plan aims towards bringing a high level of commercial and technical experience to oil and gas exploration, investment and development in Australia and internationally. OBL is headquartered in Melbourne, Australia and was requoted on the ASX in August 2006 and became an operator during 2010.

About Lind Partners

The Lind Partners, LLC is a New York-based alternative asset management company and manager of The Australia Special Opportunity Fund, LP. Lind selectively invests across a broad range of industries and economic environments with a focus on companies with market capitalisations ranging between AU$25 million and AU$1 billion having definable milestones and key inflection points that have the potential to create considerable shareholder value.
More information on The Lind Partners, LLC can be found at www.thelindpartners.com

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