ASX Release Date: 21 September 2015

Demerger Timetable Update

The Company confirms that following approval by the Company's Shareholders for the Demerger on 15th September, Tamaska requested the Company's advisors to contact the ATO to seek clarification on the anticipated time frame for issue of the draft ruling. Feedback has been received, and a revised demerger timetable is provided below.

General Meeting to approve disposal of the Montney

Asset and the capital reduction

Company notifies ASX that Shareholders have approved the Resolutions

15 September 2015

Draft Ruling received from ATO (provisional target date)

and ASX notified the Demerger is to proceed.

5 October 2015

Ex date for the capital reduction - the date on which Shares commence trading without the entitlement to participate in the distribution

7 October 2015

Record Date for capital reduction

9 October 2015

Completion of Demerger including In Specie Distribution of TMK Montney Shares to Shareholders

23 October 2015

Date holding statements are sent to Shareholders

23 October 2015

The timetable above (other than the date of the General Meeting) is indicative only, and may be changed at the discretion of the Directors (subject to the Listing Rules) or as required by ASX and is also dependent on the receipt of the draft Class Ruling from the ATO.

For and on behalf of the Board


Alexander Parks Managing Director Tamaska Oil & Gas Limited

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