Rawson Oil and Gas : Hasselgrove Gas Discovery Adjacent to PEL155

Attn. Company Announcements Office Australian Securities Exchange

17 January 2018

ASX Market Announcements Electronic Lodgements

For immediate release

RE: OTWAY BASIN GAS FIND ADJACENT RAWSON OIL AND GAS PEL155

Beach Energy discovers new conventional gas exploration in the onshore Otway Basin within 8km of proposed Rawson/Vintage Nangwarry-1 well.

Rawson Oil and Gas Limited (ASX:RAW) ("Rawson") is very pleased to announce that Beach Energy (ASX: BPT) has made a new gas discovery in the neighbouring petroleum exploration licence(PEL) to PEL155. The Hasslegrove-3 ST1 well is less than 8km from our planned Nangwarry -1 well and the Joint venture of Rawson and Vintage Energy Pty Ltd ("Vintage") are planning to test the same geological sequence. The well 'flowed gas at a rate of 25 MMscfd sustained over a 100 minute period through a 36/64" choke and at 2,700 psig well head pressure' .

Vintage MD, Neil Gibbins states that "Vintage considers the Haselgrove Sawpit Sandstone discovery to be very exciting for the Penola Trough region. We believe the play concept extends into PEL 155, enhancing the potential of the Rawson/Vintage permit. It is a positive result for the gas industry in the region and also a vindication of the support provided by the State Government to Joint Ventures exploring the Penola Trough."

Rawson management and directors are following the planned production testing closely and look forward to updating our fellow shareholders on progress.

Allister Richardson

Chairman

Rawson Oil and Gas Limited

Map 1. Licence PEL 155 in close proximity to gas discovery Haselgrove-3 ST1.

Rawson Oil and Gas Limited

ABN 69 082 752 985

GPO Box 3374, Sydney NSW 2001